I have 4 dependents that qualified for the Child Tax Credit stimulus. We received 6,600 between my wife and I. We are filing jointly, and made $85,000 in 2021 and $78,000 in 2020. Both values are well below the $150,000 total that was the cut-off mark.
We received the letter from IRS that shows we both received $3,300. All true. But when we input that value it lowers our return from $7,000 to $1,000. It also says that we have received all of the child tax credits we qualify for and says nothing about the remaining $6,000 that we were supposed to receive from last years legislation.
What's the deal?!?! It feels like we what actually happened was that we just got an advance on our 2021 tax return and getting snubbed on the $6,000. I though we would be getting $12,000 and we are only getting $1,000. Where did we go wrong?
