My family was eligible for the advanced payments, made under the income amount and all 3 kids were eligible. Nothing was changed, bank account direct deposit all the same. IRS has the record of it for years. We only received 1 payment of the advanced ctc in September 2021 and after that, the child tax portal status went from eligible to pending. We never received any more money, nor have we received the missing payments or the remainder in our 2021 taxes we filed. All that reads on our record transcript is the amount credit to account which is the missing payment in total but does not say issued refund. I'm thinking of writing a letter to the IRS with the copies of the 6419 form we received for proof. Help please.
When you prepared your 2021 tax return did you claim three children under the age of 18 on that return? What were their ages as of the end of 2021? Did you enter their Social Security numbers and make sure you did not accidentally click that their SSN's were not valid for employment? Did you say they lived with you for at least half the year? Did you enter your Letter 6419? What amount did you have on line 28 of your Form 1040?
What does it say on your online IRS account?
"[transcript has] credit to account which is the missing payment[sic] in total"
If your transcript shows the missing payments (five plus the other half of the total credit) with a minus sign,
then your processing is held up for some reason.
If you transcript shows just one payment without a minus sign, that is the payment you received.
Did you get a small refund for 2021, or nothing yet?
Did you perchance say to apply any 2021 credit against 2022 estimated taxes?
I did receive a small refund. But we only got one month payment from the advanced ctc. $600 between my husband and I for the month of September. We didn't receive the payments in the beginning because I amended our 2020 tax return and it got processed 2 months after the first payments started for everyone else.
Yes I claimed all 3 children, they were/are 5, 9 and 17. My 17 yr old doesn't turn 18 until this August. I did not click not valid for employment. Lived with us the whole year. Yes letter 6419 added and was accurate for what we received which was only one payment. The rest of the months the child tax portal said "pending" after it said "eligible" the month before. No changes were made on our end which was what I can't understand. Line 28 on 1040-SR (my husband is a senior and retired, our children are our own) says $8,400. But schedule 8812 line 28 but has 28a and b are blank.
What part of my IRS account? Transcript? On the main screen, there is no payments owed, no scheduled or processed payments.
I was going to ask if you filed an amendment.
Filing an amendment puts your ACTC processing on hold.
Eventually you should get it.
@tomb_1 The line you need to pay attention to is line 28 of your 1040SR.
Ok, line 28 shows the $8400 and my refund on line 35a of $5,383. But I thought I would receive the remainder/missing payments that were pending when I filed my tax return. On my IRS transcript it shows the $8400 on the date of 4-15-2022 as a credit which I thought meant I would receive the money on that date. But apparently not. I amended my taxes for 2020 which I thought I was supposed to do since I filed before the the American Rescue Plan took affect. I guess I really screwed up. So I guess I'll never receive a second refund for the remainder amount and the IRS will automatically apply it to 2022 taxes for next year?
You ARE getting the $8400 child tax credit but some of it is being applied to tax that you owe, so you will not actually receive the full $8400. The child tax credit is a refundable CREDIT---which means it can be used to pay toward tax you owe first and you receive the rest. If you were not getting that credit you would owe a lot more this year You would owe over $3000 to the IRS. So....perhaps you did not have enough tax withheld from your income during the year.
No---nothing is being applied to 2022. And you did not mess up. Even if you had continued to get the advance payments last year, your remaining CTC would be used on your 2021 return to pay your tax owed.
". I amended my taxes for 2020 which I thought I was supposed to do since I filed before the the American Rescue Plan took affect."
That is redundant unless you are eligible for other credits, which is unlikely.
Believe it or not, IRS is still working on some returns with the $10,200 exclusion eligibility.
Make sure you are really eligible before you keep on waiting.
Make sure I'm really eligible? I am eligible. I have claimed my 3 kids as always, they were at the ages for the proper amounts of advanced ctc to be received. My husband and I are no where near the income limit to not get the credit at all. Neither one of us received a raise in income to the point that would not make us eligible.
@tomb_1 No one can see your tax return---so it is not unreasonable to suggest making sure you are eligible. We cannot see how much your income was. And it has already been explained to you that you did receive the remaining child tax credit. It is on your line 28 on your Form 1040.
We do not owe anything to the IRS for taxes. There was nothing we had to pay in, just a refund. If you mean taxable income, together my husband and I make $63,000 annually and I withhold a fair amount of tax from my paycheck not to the point I can't survive. He's retired and I am working. I can't imagine owing taxes to the point it drains the whole $8400. Nothing explains why we only received ONE advanced ctc the IRS portal said eligible and then to go back to pending status the next month and the rest of the year.
We got one payment in Sept. Nothing in July or August because our amended tax from 2020 was still being processed. I amended because I thought I had to cause Turbo tax sent the email about amending since we already filed our 2020 taxes before the American Rescue act took affect. I'm starting to think the IRS is saying we were only eligible for one month of advanced ctc but not the rest of the year even though our amended 2020 taxes was complete otherwise we wouldn't have gotten a dime. Nothing changed, income was the same, bank direct deposit the same, none of us opted out, kids were still 9, 5 and 17 the remainder of the year. And I think the IRS assumed we got the rest of the money but we didn't and so credited the $8400 to what I don't know. All I know is that we didn't get the rest of our money and I can't find anywhere online of anyone on the same boat as us. The news said people would get the rest of the advanced ctc when they file their 2021 taxes. Well we didn't get ours so I think the IRS really screwed us.
And also I was one of the people that was apart of the unemployment $10,200 exclusion. I did receive a credit for that at least. In the form of actual money direct deposit into my bank, not like the advanced ctc where credit is just a credit not money showing up in my bank account.
Once again-----follow the math. The whole $8400 was not "drained" because you say you are getting a refund of over $5000.
YOUR own words from above......
"...... my refund on line 35a of $5,383. ...."
SOME of the $8400 was used to pay tax due that you owed for some reason. The amount that had to be subtracted from your $8400 child tax credit will come AFTER line 28. When a particular line tells you to add some lines together---DO that and check it against the tax form. We can do no more here. If you need real-time help to follow the calculations from line 28 down to line 35a please call customer support.
To call TurboTax customer support
https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number
Customer support is available from 5 a.m. to 9 p.m. Pacific time daily
What I meant was, make sure you are eligible for the 2020 unemployment deduction of $10,200.
If you are not eligible your amendment will be denied.
I figured you would accept xmasbaby0 explanation of how your child tax credit was handled.
Sorry for any confusion.