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The CTC for 2021 was $6000 for 2 kids as opposed to $4000 in 2020 BUT ... did you not already get $3000 in monthly advance payments (july - dec of 2021) ? If you did then the other half is all you get on the tax return.
assuming you children were under 17 years old at the end of 2020 and were in the range of 6-17 years old at the end of 2021, here is how it works:
1) for 2020, you would have received $2000 per child or $4000
2) for 2021, you would have been eligible for $3000 per child or $6,000. But if you received the Advanced Child Tax credit of $500 per month from July - December, 2021, then you already received the 1st $3,000 and there shuld be another $3,000 on line 28 of Form 1040 of your tax return.
note that for 2022, unless Congress acts, you will be back to $2,000 per child under the age of 17.
If you didn't get the Advance you would get the whole credit on your tax return. But you already got half so you aren't losing anything.
I found this in a news article, it explains it pretty well........
While the CTC expansion was structured to not increase taxes on any household, a dollar of credit received in advance results in a dollar less received at filing time. For families unaware of the trade-off, it could mean a surprise when they see their refund total this year.
Consider a married couple with a 10-year-old child who normally received their $2,000 CTC when they filed their taxes. They would have received $1,500 of their $3,000 in advance. As such, they could potentially see their refund shrink by $500 even though their total benefit increased to $3,000 because they are left with $1,500 instead of their normal $2,000 at tax time.
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