My tax return is significantly lower than it's ever been

[bermudaACE]

I have two children and qualified for the Child Tax Credit, shouldn't I be getting MORE than usual?

[xmasbaby0]

Did you receive those monthly advance child tax credit payments between July and December?  If so, remember that you got half of your child tax credit ahead of time so you do not get as much as part of your refund as you might have received last year.

Federal>Deductions and Credits>You and Your Family>Child Tax Credit

The IRS is sending out letter 6419 to you.  It will show the amount of advance child tax credit that you received during 2021.  Enter the information from that letter carefully.   

The remaining amount of CTC that you can receive will show up on line 28 of your 2021 Form 1040.

PREVIEW 1040

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

NOTE:   The CTC is indeed a “credit” that can be applied toward any tax liability that you would otherwise have to pay as “tax due”  to the IRS.

[JamesG1]

The Child Tax Credit benefit increased for 2021 but many taxpayers received advance payments starting in July of 2021.  Advance payments are reported on IRS Letter 6419.

Report the Advance Child Tax Credit payments received under Federal / Deductions & Credits / Your tax breaks / Advance payments, Child and Other Dependent Tax Credits at the screen Tell us about any Advance Child Tax Credit payments.

• In box 1 report the amount of the advance payments. 
• In box 2 report the number of qualifying children listed on your IRS Letter 6419, not the number of qualifying children you are reporting on your 2021 Federal 1040 tax return.

The advance payments reduced the amount reported on your Federal 1040 line 28.  You are able to view the Child Tax Credit on line 28 of the Federal 1040 under Tax Tools / Tools / View Tax Summary / Preview my 1040.

See this TurboTax Help.