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Deductions & credits
These are the payments for Child Tax Credit in advance, as long as you qualify for this credit, you do not need to pay it back... Its just that instead of getting this money at the tax time, you are getting it in advance. So as long as you still qualify for this credit in terms of your Adjusted Gross Income, you will get to keep it. See the link below to see if you will qualify:
https://www.nerdwallet.com/article/taxes/qualify-child-child-care-tax-credit
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‎July 21, 2021
12:10 PM
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