@BeaverDamn @ - Let's see if we can't figure this out.
I asked if your income was over $150,000 and what I really should have asked is if it over $200.000 as the benefit is reduced if so. I'll assume that your income is below $200,000 but we can adjust as necessary.
1) You were entitled to $7200 ($3600 for each child under the age of 6)
2) That is reduced by whatever is on Line 11 of Form 8812 (it'll be blank if your AGI is below $200.000 as I assume you did NOT file joint-married) PLEASE CONFIRM WHAT IS ON LINE 11 of form 8812
3) then subtract the $3000 you already received (which is a weird number as that is two children over the age of 5). In fact, if you claimed all 3 children in 2020, then I would have expected the Advance to be $850 per month for 6 months or $4800. That makes a lot more sense since $7200 from 1) above less $4800 is the $2500 you state you had on Line 28. Please review your bank statements again
4) have you actually filed or are just just aghast at what you owe???? if you filed and got an adjustment letter from the IRS, how much of a refund were you expecting to receive when you filed (we need to add that expected refund to the $1488 to understand how much the IRS adjusted)
5) what did the IRS letter state was the reason for the adjustment? Nornally they give 5-6 possible reasons, and if they all relate to the Child Tax Credit, that is all I need to know.
6) what is on lines 14f and 14i of Form 8812?
anwering my questions is not going to get us all the way to the answer, but it is going to get us a lot closer to understanding what occured. Pleaser respond and I may have one othe round of questions that will figure this out.
