If I take the advanced payments for the Child Tax Credit, will that lower the amount of money I get as a refund for 2021?

[movybuf]

For example, if I typically get $3,000 back when I file my taxes would I get less than that for my 2021 refund if I take the advanced payments?

[DoninGA]

Yes.  You must reconcile the advance payments received for the Child Tax Credit on the 2021 tax return.

[Mike9241]

however, in total, the refunds are likely to be more since the CTC has increased. you'll receive part of your refund with the advance CTC payments and the balance when you file.