I was in the understanding I would receive money back when claiming my children. Is this not correct?

[xmasbaby0]

Are you asking about the recovery rebate credit for stimulus money----or child related tax credits like earned income credit or child tax credit?

[mdthompson2018]

I felt as if my tax return was much less than normal. I was expecting to get more especially with filing two children.. So my question is, is there money physically allotted on the return per child? 

[Cynthiad66]

You have not provided enough details about your question to be specific in my response.  However, when you claim your children on your tax return you will receive additional deductions.  If these are your children who live with you you may be able to claim the Earned Income Credit and the Child Tax Credit to start with.  These added deductions could increase your refund.  

Claiming dependents or children:

 If you have a new dependent, you may be able to save more on your taxes as a family. While there are qualifications for who you can claim as a dependent, we’ll help figure that out and make sure you get all of the advantages you deserve. Here are some things to note as you get started on your return.

1. You can claim a child born anytime in 2020 on your 2020 taxes

Assuming they meet all the other dependent qualifications, you can claim a child born anytime in 2020 on your 2020 taxes. When we ask how many months your newborn lived with you, always answer The whole year, even if your baby was born on the last day of 2020. Answer the same for any health care coverage questions if your newborn was insured from the date of birth, because you’re able to claim the child for the entire year, no matter when they were born in 2020.

2. You can claim adult dependents you support financially, even if they don’t live with you

If you financially support a relative, you can claim them as a dependent, even if they don’t live with you. They have to meet certain criteria, but if you cover 51% or more of their finances, you can add them to your list of dependents. And if you support an adult dependent that isn’t actually related to you by blood or marriage, then they must have lived with you for the entire year in order for you to claim them. Just tell us about all of your dependents and we’ll determine if they qualify.

3. You can claim certain credits

Fortunately, there are many credits available to help families with dependents. The Child Tax Credit and Credit for Other Dependents, can help with your children and relatives. The Child and Dependent Care Credit, is available to you if you paid for their care while you worked. You can also claim medical and education expenses you paid for your dependents. We’ll show you all of these as you go through TurboTax and help get you the refund you deserve.

You may also claim dependents that could increase your Stimulus payment>  

Stimulus payments were advances on the Recovery Rebate Credit.

If you received the full amount of both stimulus payments (Economic Impact Payments), you won’t get any additional credit on your return this year since you’ve already received the full amount of the credit as stimulus payments.

If you didn't receive the full amount for your first or second-round stimulus payments, we'll help you claim the Recovery Rebate Credit when you file your taxes this year.

We'll make sure you get the money you qualify for by double-checking the amount and quantity of stimulus payments you received.

Here’s how:

• Enter all of your federal return information as you would normally. During the Federal Review, we’ll check if you meet eligibility requirements for the stimulus payment. If you meet the requirements, you'll see a It looks like you qualified for the stimulus, did you get any payments? screen. We'll ask a few questions about any payments you've already received and then let you know if the Recovery Rebate Credit applies.
  • If you need to make any changes to your stimulus credit responses, search for stimulus and select the jump-to link at the top of the search results to return back to the section. Enter your updated info and Continue.

It’s important that you enter the correct amount of each stimulus payment you received. The first stimulus payments were made between April and September of last year, while the second round of payments were delivered during January and February. You can find the exact amount,

• On your IRS letter-Notice 1444 and/or 1444-B which were mailed to you with the headline, “Your Economic Impact Payment Has Arrived” and were signed by the president. Or,
• By visiting IRS.Gov and creating or accessing your account. Or,
• In your bank statements. You might be able to search your online statements for deposits made by the IRS or US Treasury.

Eligibility rules for the Recovery Rebate Credit

[xmasbaby0]

You did not answer----did you enter taxable income earned from working.   Are you asking about child-related credits---or are you asking about stimulus money?

If you are asking about stimulus money---for your children who are UNDER the age of 17 at the end of 2020, the first stimulus amount was $500 per child; the 2nd stimulus amount was $600 per child for a total of a possible $1100 stimulus check per child which you can get using the recovery rebate credit if you did NOT already receive it.

If you are asking about child-related tax credits like earned income and the child tax credit--those credits are based on how much you earned by working.  Is that what  you are asking about?  If so----did you enter income that you earned from working in 2020?   And did you work in 2019?  Did you receive earned income credit or the child tax credit for your 2019 return?