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Deductions & credits
The newly enhanced child tax credit is not tied to how much you earned by working so no, you will not have to pay back the amount you receive as monthly payments when you file your 2021 tax return even if you do not work in 2021. And....later in the summer the portal is supposed to be ready to allow you to enter new information about your family so you may be able to enter information about your younger child to start receiving monthly amounts for that child if you want to do that. Or you can leave it as is and get the full amount for the younger child when you file your 2021 tax return.
https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
‎July 22, 2021
7:51 AM
787 Views