Taxes

Forum|Forum|4 years ago
July 21, 2021
1 reply
5 views

How come that I received the incorrect amount on the child credit for the month on July. When I file my taxes correctly? Who do I contact to get help with the situation? No information is on the IRS about receiving the incorrect amount for the child credit deduction.

xmasbaby0

Level 15

We do not know if you received an incorrect amount since you have not told us the ages of your children or how much you received. The amount you receive is based on how old the child will be at the END of 2021. If you are not receiving the right amount on the monthly payments you will be able to reconcile it when you file your 2021 tax return.

Q C1. What is the amount of the Child Tax Credit for 2021? (added June 14, 2021)

A1. For tax year 2021, the Child Tax Credit is increased from $2,000 per qualifying child to:

$3,600 for children ages 5 and under at the end of 2021; and
$3,000 for children ages 6 through 17 at the end of 2021.

Note: The $500 nonrefundable Credit for Other Dependents amount has not changed. For more information about the Credit for Other Dependents, see IRS Publication 972, Child Tax Credit and Credit for Other Dependents PDF.

https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-topic-a-general-information

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**