@LeonardS and @Critter-3 , I want to thank you both for replying.
If I understand Letter 6419, "If you're eligible for the credit, file Schedule 8812 with your 2021 income tax return to claim your remaining credit (for a total amount of up to $3,600 per child under age 6 and $3,000 per child age 6 through 17)." It clearly states I should be expecting a total of $7,200 (I have 2 children under age 6 times $3,600).
When I started my data entry this season, I saw my refund included the $3,600 above my federal and state tax refund amounts. As soon as I entered the amounts in the letters that my wife and I received, my federal refund dropped by $3,600 which would imply that I'm not entitled to receive the remaining $3,600 out of $7,200 even though we are both under the modified adjusted gross income of $150,000 giving us the full CTC.
If the Refund-O-Meter were correct from the beginning, my refund should have assumed that I am due the entire $7,200 from the beginning and then get reduced based on the amounts from Box 1 on Letter 6419. Hope this helps clarify what I and many others are seeing. We have only received half of the CTC as designed by the payouts last year and Turbo Tax isn't accounting for the remaining amount that should come via our refunds. I would bet my current refund on it!
