Question

Child tax credit

Forum|Forum|5 years ago
March 15, 2021
1 reply
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I filed my taxes the 1st week of February. They were excepted on feb. 12th, though I haven’t received them yet. My question is with the new 2020 child tax credit signed in March; how can insure I receive the whole credit or the amount I’m supposed to receive. When I filed my taxes I was able to use my 2019 taxes w/ AGI being around 17,000. I didn’t work much in 2020 averaging around $430 total for the year. I had my baby in June 2020. When I look at my taxes I received $1,000 child tax credit. Anyone have any answers? Is this the max I can get in credit($1,000)? Am I able to receive more & how? Can someone further explain that law if I misinterpreted it.

X

xmasbaby0

Employee

That CTC increase is not for 2020; it is for 2021. Your 2020 return does not have to be amended for it. More information will be available soon; the details of how it will be implemented have not yet been clarified fully. There may be monthly payments going out beginning in July 2021, with some of the CTC still left as a refundable credit on your 2021 tax return next year.

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**