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Do anyone of you have clients who have heard that the new $3000/$3600 Child Tax Credit will be going into effect for 2020 tax year? I have someone who heard April 3 .

caroljo
Level 4
Someone said they heard that on April 3 2021 we can start getting the larger Child tax Credit for 2020 tax year.
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Just-Lisa-Now-
Level 15
Level 15

"someone said they heard" is a lousy source for reliable information

https://proconnect.intuit.com/taxprocenter/tax-law-and-news/american-rescue-plan-what-does-the-third...


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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4 Replies 4
Just-Lisa-Now-
Level 15
Level 15

"someone said they heard" is a lousy source for reliable information

https://proconnect.intuit.com/taxprocenter/tax-law-and-news/american-rescue-plan-what-does-the-third...


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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IRonMaN
Level 15

"Someone said they heard that on April 3 2021"

Hopefully that wasn't a tax preparer that you heard that from.

Barber! Why didn't I think of this before? Getting paid to give out bad tax advice - need I say more? I've run with scissors for years so it is a natural fit.
rbynaker
Level 11

Is that anything like "according to the people who were not authorized to speak publicly"?

At this point I'm almost ready to just throw my arms up in the air and take the same approach as Sgt. Schultz.  "I know nothing!"

BobKamman
Level 13

The earliest it will start is July 1, and that's only if IRS clears many hurdles.