"IRS Urges Taxpayers: File Taxes Now, Regardless of Child Tax Credit Changes"

As the tax season begins, Congress is still negotiating a $78 billion tax package that includes potential changes to the child tax credit. IRS Commissioner Danny Werfel advises taxpayers not to wait on Congress and to file their taxes when ready. The proposed changes could expand access, increase the refundable portion, and add future inflation adjustments to the child tax credit. While the bill's path forward remains uncertain, the IRS plans to make necessary system updates if the tax package is approved, and filers may receive updates on any impact to their returns without having to take additional steps.