TurboTax does not know why you did not receive the CTC payment. It is possible that your payment has not posted to your account yet, or that they mailed a check and you need to watch your mailbox. If your 2020 return or an amended return is still pending you will not receive a monthly advance check.
This is a brand new system thrown together by the IRS after Congress changed tax laws in the middle of the tax season. There are going to be bugs, glitches and mistakes made and folks will unfortunately have to be patient until they sort it out.
If you do not receive the monthly payments you will be able to get the CTC on your 2021 tax return.
https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021
https://www.irs.gov/newsroom/irs-announces-two-new-online-tools-to-help-families-manage-child-tax-cr...
IRS.gov/childtaxcredit2021,
https://www.irs.gov/credits-deductions/child-tax-credit-update-portal
According to the IRS if your return, even an amended one is still processing then you will not receive the advance child tax credit payments. Go to topic Q B 12 as of June 30th there were 35 million US income tax returns that had not been processed and estimated only 3% of phone calls were being answered. Verify that here
To qualify for advance Child Tax Credit payments, you — and your spouse, if you filed a joint return — must have:
1) Filed a 2019 or 2020 tax return and claimed the Child Tax Credit on the return; or
2) Given us your information in 2020 to receive the Economic Impact Payment using the Non-Filers: Enter Payment Info Here tool; and
3) A main home in the United States for more than half the year (the 50 states and the District of Columbia) or file a joint return with a spouse who has a main home in the United States for more than half the year; and
4) A qualifying child who is under age 18 at the end of 2021 and who has a valid Social Security number; and
Made less than certain income limits.
The Child Tax Credit begins to be reduced to $2,000 per child if your modified AGI in 2021 exceeds:
- $150,000 if married and filing a joint return or if filing as a qualifying widow or widower;
- $112,500 if filing as head of household; or
- $75,000 if you are a single filer or are married and filing a separate return.
The first phase out reduces the Child Tax Credit by $50 for each $1,000 (or fraction thereof) by which your modified AGI exceeds the income threshold described above that is applicable to you.
The Child Tax Credit won’t begin to be reduced below $2,000 per child until your modified AGI in 2021 exceeds:
- $400,000 if married and filing a joint return; or
- $200,000 for all other filing statuses.
The second phase out reduces the Child Tax Credit by $50 for each $1,000 (or fraction thereof) by which your modified AGI exceeds the income threshold described above that is applicable to you.
Go to this IRS website for the advance Child Tax Credit FAQ's - https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-f...
