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Yes if you have possession, you received them.
Yes. The IRS knows that they sent the checks and you are required to enter on your tax return that you received them. Why you did not cash them may be a mystery to us. If you wanted to opt out of receiving those checks you could have done so on the IRS site. If you are not claiming the child you received those checks for on your 2021 tax return you may or may not have to repay the money, depending on your income. You might as well cash them if you did not throw them away.
TurboTax calculates the Repayment Protection. This determines if a person is required to repay the advance CTC.
What is Repayment Protection?
Repayment protection is an income-based program that reduces the amount of excess advance Child Tax Credit payments you have to repay.
Full repayment protection equals $2,000, multiplied by the following:
To be eligible for full repayment protection, your adjusted gross income (AGI) for the 2021 tax year must be at or below the following:
You won’t qualify for any repayment protection if your modified AGI is at or above the amounts listed below based on the filing status on your 2021 tax return.
For information on the definition of modified AGI, see Topic C: Calculation of the 2021 Child Tax Credit.
why did you not cash them?
They will expire soon if not already.
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