Child Tax Credit Payment

[hoyarod]

According to a credit payment calculator, based on my AGI and number of children, I am scheduled to receive $6,600 total over the next six months. I read that I would then also receive the same amount when I file my 2021 tax return. Is it accurate to say the payments over the next 6 months will represent half of the total and that I will receive the second half in 2021?

[JaniceS_CPA_CFP]

Yes, that is correct. The Child Tax  Credit is $3,600 for children 5 and younger and $3,000 for ages 6-17. It will be paid half as an advance child tax credit this year and the other half when you file your 2021 taxes next year. $300 or $250 per month for 6 months this year and $1,800 or $1,500 next year, per child.