@Jonlewis91 wrote:
So when I file my taxes for 2021, since it’s 2022, I won’t get the advance payments like she has this year?
I feel I am making too many explanation.
The 2021 child tax credit is claimed on a 2021 tax return, which reports your 2021 tax situation, and must be filed before April 15, 2022. It's a 2021 tax return, even though it is filed in 2022.
Some people are getting advance payments. This is an advance payment of the credit they will claim on their 2021 tax return. It doesn't change the total amount of the credit ($3600 for qualifying child dependents age 5 or less) only when it is paid. (For instance, someone who gets $1200 in advance payments for 1 child would get another $2400 on their tax return, to total $3600.)
The advance payments will stop at the end of 2021. The 2021 credit will be reconciled on your 2021 tax return. If you claim 2 children as dependents for 2021 and you did not get any advance payments, you would get $7200 added to your tax refund. You might also get the $1400 stimulus check added to your refund if you did not already receive it.
For the year of 2022, there are no more advance payments no matter how you file your 2021 tax return. The child tax credit goes back to the old rules, and will be awarded on the 2022 tax return that you file in April 2023.
