child tax credit update

[Posi Tax]

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

[abctax55]

Probably when the software comes out this fall?

Those changes don't pertain to 2020 tax returns.

[Just-Lisa-Now-]

In the 2021 software package.

[Posi Tax]

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

????????

[sjrcpa]

You got the wrong impression.

[Posi Tax]

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