Yes, you may have to pay back the Advanced Child Tax Credit.
There is repayment protection based on income, but you won’t qualify for any repayment protection if your modified adjusted gross income (MAGI) is:
- $120,000 if you are married and filing a joint return or if filing as a qualifying widow or widower;
- $100,000 if you are filing as head of household; and
- $80,000 if you are a single filer or are married and filing a separate return.
The parent who received the ACTC is the only one who may have to pay it back.
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