Child Tax Credit 2021

[Susan_GR]

I just downloaded the new ProSeries 2021 and it is not accounting for the change in 2021 for the additional $1000 child tax credit and the change in the child's age to 17 for the full credit.  The form does not say it is not completed so I'm wondering if anyone knows when that update will be programmed?

[Just-Lisa-Now-]

I commented on your other post, you shouldn't expect a fully working version of the program until January....lots more changes and updates will happen between now and then, and I wouldn't transfer any client files until then either...I think the yellow banner alert said to wait until at least 11/18 update to transfer client files....in prior years transfer bugs were an issue up until January.

[Susan_GR]

Thanks Lisa.  I'm trying to help some clients plan with these 2 specific changes prior to the end of the year so they can make changes to some things before the end of the year so it would be great if those forms had the yellow warning on them too or that you don't release the software until the major things are ready.  Thanks for your efforts and quick response!  I know it is hard with all the temporary changes coming at you.  I will look for the updates.

[BobKamman]

IRS just released the draft Form 8812 for 2021 last Thursday.  It has grown from one page to three pages.  It usually takes several weeks for a draft form to get through the programming and approval process.  IRS may have waited until November, anticipating late legislation.  Or they may just have had problems with programming it themselves.  As my mother would say, DWYP.  

[TaxGuyBill]

When Intuit releases the 2021 program, it mostly uses the 2020 tax laws.  So it is pretty much completely useless until AT LEAST early-to-mid December.

Intuit only releases it this early so they can collect our payments a month early.

[George4Tacks]

@Susan_GR You might consider purchasing Tax Tools https://www.taxtools.com/products_tt.aspx It has a wonderful tax planner, along with many other "Tools". Click the tabs on the site to see the long list. 

[Camp1040]

I believe the original question might need and "Acme" post counter attached to it.😏

It would be very stressful so I will not be volunteering!

Personally I am not going near the 2021 program until mid December.