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Deductions & credits
I'm sorry, I thought you were talking about the $1,400 stimulus payment, I should have read your question more completely!
It is unclear at this point in time how the additional child tax credit will work. It is possible that it will consist of a stimulus payment, or simply allow you to reduce your tax withheld to account for your smaller tax liability when you file your tax return next year.
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March 17, 2021
8:25 PM