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As far as the advanced child tax credit. if you have a 17-year-old that turns 18 before December 31, 2021 then you would receive $500 total for that dependent instead of the larger $3000.
When will I receive the 500.00?
@Shevonboston81 wrote:
When will I receive the 500.00?
The Other Dependent tax credit of $500 is included in your federal tax refund.
"As far as the advanced child tax credit. if you have a 17-year-old that turns 18 before December 31, 2021 then you would receive $500 total" is a misstatement. Your child is not eligible for any ADVANCED payment. That answer just means he is only eligible for the $500 "other dependent" credit, which will not receive until you file your 2021 tax return next year. He is too old for any child tax credit.
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