My family received $1k in advance child tax credit for 2021 childcare. Can you give me info on 2021 tax issues/credit for childcare. And, how to factor in this advance payment? Thx!
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Yes, the advance child tax credit (ACTC) is reconciled on the tax return with your IRS letter 6419.
Child Care can be reviewed at this link and it can be refundable this year if your tax is less than the credit: Child and Dependent Care Credit
The child tax credit (CTC) is reconciled on your 2021 tax return, taking into account any advanced child tax credit (ACTC).
You can view your entire return or just your 1040 form before you e-file:
Thx
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