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Do I have to pay back advance ctc?

 
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2 Replies

Do I have to pay back advance ctc?

i had to report it and they took it out of my refund as in my refund went down !

JohnB5677
Expert Alumni

Do I have to pay back advance ctc?

Yes, if you received  Advance Child Tax Credit payments that exceed the amount of Child Tax Credit that you can properly claim on your 2021 tax year, you may need to repay to the IRS some or all of that excess payment.

 

For the tax year 2021, the Child Tax Credit 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.

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