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Deductions & credits
Yes, the stimulus and child tax credits will be reconciled on your 2021 tax return. Any stimulus payment you became eligible for due to a change in income will be paid when you file your 2021 return. But the good news is the 2021 child tax credit is fully refundable! That means you will get the full credit, even if you owe no tax.
Here is a link to our Tax Tips Guides article which has a calculator so you can see what your credit will be.
Child Tax Credit Calculator and Top 7 Requirements
You also may be eligible for Advanced Child Tax Credit payments. You can see what they may be in the same article.
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‎July 21, 2021
10:15 AM