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If your child is eligible for an SSN, you must wait to file your tax return until you receive it, even if that means you are late.
If you did not request an extension, then it is likely that the IRS will deny many of the tax benefits you would otherwise be entitled to, including the $2000 child tax credit, and EIC if you are eligible. You must have the child's SSN at the time you file an "on time" tax return. An on time return is one that is filed before April 15, or filed before October 15 if you requested an extension before April 15. (If you did not request an extension before April 15, it is too late now to request an extension.)
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