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child tax credit update

Posi Tax
Level 2

Does anyone knows when they are going to update the Child Tax Credit software to reflect Biden's new tax rulings?

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5 Replies 5
abctax55
Level 15

Probably when the software comes out this fall?

Those changes don't pertain to 2020 tax returns.

Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.

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Posi Tax
Level 2

I was under the impression that the the increase in the child care credit from $2K to $3K was effective immediately for those filing their 2020 tax returns (providing income limit)................similar to the credit of $10K given to those with a 1099G which has already been calculated in the new software update yesterday.  Thanks

????????

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sjrcpa
Level 15

You got the wrong impression.


ex-AllStar
Posi Tax
Level 2

Ok Thanks ......been glued to screen for too long.  lol

Just-Lisa-Now-
Level 15
Level 15

In the 2021 software package.


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