Taxcaster inaccurate 2021?

The stimulus is NOT taxed ... the taxcaster asks how much you got in advance so you are not given credit on the return ... it gives you the full credit until you said you already got it (just like the TT program did) ... thus you will see a change naturally.  Don't change this or the estimate will be off and not in your favor.

And the advance of 1/2 of the CTC will naturally reduce your refund since you got 1/2 of the credit up front.  

That all makes sense, but clearly something is up. 1) it's increasing my taxes owed (see pictures below) this eating into the second half of the CTC (it's also not including the extra one time ctc payment $500 for dependent in college)

Married, filing joint, with 3 Children under 17 and a 18 yr old going to college, living with me, Ive never owed $3193 in taxes. I only being in $55,000 a year total.

What will you have withheld on the $55K income? 

See that little blue bar under the tax owed amount?   And do you notice it is not even half way across the screen?   It looks like you have not put in all of the information yet -- at least per the screen shot you have posted.

You + spouse + 3 kids under 17 + 18 yr old = 6 people on the return ...  6 x $1400 = 8400 advance stimulus ... you only put 7000 

$2500 for state, 0 for federal. Federal hasn't taken anything out for the past 7 years due to $50-55k income with 4 dependents and a wife with 0 income.

Does stimulus count as income and raise your tax bracket?

Because until I put in the stimulus, the taxes owed was $313 bucks before it calculates my dependents etc

I'll change it. I couldn't remember the exact amount.

You will not be taxed on stimulus money you received.   That money is not taxable.   But it sounds like you are panicking without entering everything.    You are looking at amounts "before" you even entered how many dependents you have. 

"....before it calculates my dependents..."

All of your information has to be entered before you take the results seriously.

The stimulus does NOTHING to your income tax return except if you got the full amount in advance you cannot have it again on the tax return.  

Using your info ... 55K/0WH/4kids(3 under 17)/7000 stim cr advance/4500 advance CTC ....         I get a refund of $3200  which is correct. 

Doesn't change. Still jumps from $393 owed to $3193. An extra $2,800 tacked on. Then when the credits are all applied, that $3293 gets deducted and I get a $1800 refund. My refund is usually $4000 to 4300 form the past 3 years. 

But it says I get $1800 when I reach the end not $3200.

See the images? Before I enter stimulus info, taxes owed (before dependents, credits etc.) Is $393

Then when I put in the stimulus amount, the taxes owed jumps to $3193

It increases taxes owed by $2800 moving through the rest of the application. Perhaps it's a mobile bug. 

It just didn't make sense that my refund, according to Taxcaster, is $2,000 smaller than the past 3 years and nothing has changed.

Have you been receiving the monthly advance child tax credit payments that began in July?

Yes. But the other half should still be paid out yes? $4500 July-Dec and the other $4500 in refund. But the $4500 is getting eaten up by this $3193 which I've never owed since having 4 dependents and a family of 6. But that $3193 shows up once I put in stimulus recieved. Before I enter stimulus that $3193 is only $393

Using your info ... 55K/0WH/4kids(3 under 17)/7000 stim cr advance/4500 advance CTC ....         I get a refund of $3200  which is correct.   Remember you have an 18 year old on the 2021 return so the credit you got for that child was reduced from $2000 to only $500. 

This is close to the usual $4000 refund you are used to.   Many will be surprised this year that their refunds are less due to the advance CTC payments.  

I'll keepy fingers crossed that I'll see the $3200 as opposed to the $1800 it's telling me.

Remember you have an 18 year old on the 2021 return so the credit you got for that child was reduced from $2000 to only $500. 

And if you really got 6 x $1400 = $8400 of the advance third  stimulus payment that would reduce the $3200 by $1400 =  1800 so the program is correct.  

Before you prepare your actual tax return ---- make sure you know EXACTLY how much you received for the stimulus money in 2021   --- do not mess that up.    And make sure you know EXACTLY how much you received for the advance child tax credit payments.

You will want to check your account on the IRS site to make certain of those amounts

https://www.irs.gov/payments/view-your-tax-account

And....you have a college student?  When you prepare your return you will want to look at the American Opportunity education credit.

I'm seeing exactly the same thing happening to my estimate. It seems to be treating the stimulus payment as income and increasing my tax burden even after putting in all my information. If I leave out the stimulus payment, I get an amount that's pretty close to what I usually get every year. 

We cannot see what you are doing.   But....the stimulus money is NOT taxable, so you are misinterpreting something.   If you neglect to enter the amount of stimulus money you received then the software thinks you did not receive it and is adding it again.   You cannot get it twice.

I know it's not taxable. So why is it increasing my tax burden after entering the amount? If it has no effect on income or taxes owed then nothing should change. 

@gmwilliams8610 This thread began with another user who was not entering everything and getting upset with the results before all of his information had been entered.   That user was looking at results before he even entered information for dependents.    Until ALL of your information has been fed into the estimating tool, you cannot see real results.   And......are you receiving monthly child tax credit payments----your refund will be less than in past years since you are getting half of that credit in advance.

I never got my 

Stimulus check or my federal check. Or my child care credit