So last year i received almost twice as much as i did this year with just 2 kids on my taxes. This year i have 3 kids on my taxes and got back much less than the previous year.
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The tax law changed.
Make sure you have entered your child as a dependent in My Info, and that you have entered the child's Social Security number. Careful— do not say that your child’s SSN is not valid for employment. If your child was born in 2022 make sure you said he lived with you the whole year. There is an oddly worded question that asks if the child paid over half their own support. Say NO to that question.
Have you entered income from working in 2022? If not, you will not receive an income tax refund based on having dependent children.
The rules for getting the child tax credit on a 2021 tax return and now on a 2022 return are very different. For 2021 you could get $3600 for a child under 6 or $3000 for a child between 6 and 17 even if you had no income/did not work. That is NOT the way it will work for your 2022 tax return. The “old” rules are back. The maximum amount of the child tax credit is now $2000 per child; the refundable “additional child tax credit” amount is $1500. In order to get that credit, you have to have income from working. The credit is calculated based on the amount you earned above $2500 multiplied by 15%, up to the full $1500 per child. If your child is older than 16 at the end of 2022, you do not get the CTC. But you may still get the non-refundable $500 credit for other dependents instead.
https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit
Look at your 2022 Form 1040 to see the child-related credits you received
PREVIEW 1040
https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing
Child Tax Credit line 19
Credit for Other Dependents line 19
Earned Income Credit line 27
Additional Child Tax Credit line 28
So I'll be straight up front about my taxes. Im getting about $4000 back but my child tax credit was only $800. I have 3 kids 8 and under. I feel like my tax refund should have been way more than what Im getting. I filled out all the information correctly answered all the questions about the children correctly, but still dont feel like I'm getting enough for 3 kids.
@xmasbaby0 gave excellent links. Remember the Child Tax Credit is non-refundable meaning you only get enough to take your tax on line 18 down to zero. After that you may get up to 1500 per child as a refundable Additional Child Tax Credit on line 28 which is not related to your tax bill. Last year the Child Tax Credit was higher and all refundable meaning you got that back no matter what your tax was.
You can view your 1040 in online versions using these steps.
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