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jeffnlilly
New Member

If I already efiled and it's pending so if biden raises child tax credits etc will my refund be increases accordingly ?

 
3 Replies
macuser_22
Level 15

If I already efiled and it's pending so if biden raises child tax credits etc will my refund be increases accordingly ?

There is not law yet.  It may never pass.  Nobody knows what it will or will not do or if it will be retroactive to 2020.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
jeffnlilly
New Member

If I already efiled and it's pending so if biden raises child tax credits etc will my refund be increases accordingly ?

I understand that , I'm just saying IF IT WOULD PASS FOR THIS TAX SEASON FOR 2020 TAXES and I already efiled and it's pending till they start accepting them Feb 12 would my refund be adjusted 

macuser_22
Level 15

If I already efiled and it's pending so if biden raises child tax credits etc will my refund be increases accordingly ?


@jeffnlilly wrote:

I understand that , I'm just saying IF IT WOULD PASS FOR THIS TAX SEASON FOR 2020 TAXES and I already efiled and it's pending till they start accepting them Feb 12 would my refund be adjusted 


No.  Any tax law change would take months to be implemented.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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