@KarenCPA - the error everyone appears to be making on these board is that the amount entered when prompted by TT for the Advance Child Tax credit does not match the IRS records. Taxpauers are entering a number than is LESS THAN what the IRS has in its records, which has the effect of inflating refunds.
That difference is reduced by the IRS which has the effect of reducing the refund to the correct number.
please review Line 28 of your tax return which is calculated as follows:
1) $3600 for each child under 6 PLUS
2) $3000 for each child ages 6-17
3) LESS the amount received from the IRS from July - December, 2021. How much did you receive? do not do this from memory - find the documenation!
1) and 2) are automatically calculated by TT based on your dependents and the birthdates entered
3) is a manual input. Refer to Letter 6419 (and if you are filing joint there were TWO letters that needed to be added together) Or review your bank account records from July - Dec, 2021 (the 15th of each month). THis is where many made the mistake of not accurately entering what they actually received
does that help?
