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New Member
posted Jan 23, 2024 3:18:21 PM

Child tax credit 2023 - I keep hearing I shouldn't file because they passed an update to the CTC so it's not $2000 anymore. TurboTax still has $2000. Do I file or wait?

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Level 15
Jan 23, 2024 3:19:12 PM

ENHANCED CHILD TAX CREDIT BILL

 

No one here knows if or when the proposed enhanced child tax credit bill will pass.   It is presently in the hands of 535 state representatives and senators.in Congress.     It has not been passed or signed into law.    IF and when it passes, we do not know when they will make it effective or how it will be implemented.  They are still wrangling with it so we do not know what it will look like when they are done.

 

It is unlikely to affect your 2023 return; maybe enough members of Congress remember what a mess they created when they changed the tax law for taxing unemployment during the 2020 tax filing season in 2021 and will not want to do that to the U.S. public again in mid tax season.  Or maybe they will go ahead anyhow.  We do not know.   But if it affects you for 2023 they will have to provide a way for you to get the credit.