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kemo1a
Level 3

Unemployment refund and Child Tax credit

So I did not amend my taxes for the fact I should be getting a refund due to the change in tax law on the taxes paid on unemployment.  I am in the married category with both of us paying tax on unemployment should I have gotten the refund by now?  Secondly We opted out for the child tax credit but we received a payment.  What do I have to do to not get the advance payment?

9 Replies
xmasbaby0
Level 15

Unemployment refund and Child Tax credit

 The IRS is recalculating refunds for people whose AGI is $150K or below and who filed before the tax law that changed the amount of unemployment that is taxable on a federal return became effective.   

 

 

The IRS began to send out the additional refund checks for tax withheld from unemployment in May.  The refunds are being sent out in batches—starting with the simplest returns first.   If you are eligible for the extra refund for federal tax that was withheld from your unemployment the IRS will be sending you an additional refund sometime during the next several months.  TurboTax cannot track or predict when it will be sent.  The IRS has not provided a way for you to track it, so all you can do is wait for the refund to arrive.

 

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve...

 

 

Please read this very recent news from the IRS:

 

https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-m...

 

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

 

https://ttlc.intuit.com/community/tax-credits-and-deductions/help/am-i-eligible-for-a-new-credit-or-...

 

 

 

You say that you opted out for the monthly child tax credit payments?   Try going to the Manage Payments portal again.

 

  This is a brand new system thrown together by the IRS after Congress changed tax laws in the middle of the tax season.  There are going to be bugs, glitches and mistakes made and folks will unfortunately have to be patient until they sort it out.  

 

https://www.irs.gov/credits-deductions/child-tax-credit-update-portal

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
kemo1a
Level 3

Unemployment refund and Child Tax credit

I understand your generic answer that release said it would be paid out by June it is now August I am looking for a more updated response unless there is none.

kemo1a
Level 3

Unemployment refund and Child Tax credit

Thanks for the answer to the second part here's what my portal states.  Did I miss something?

 

  • EligibilityYes
  • Status

    Unenrolled. You will not receive advance payments.

    Confirmed Jun 28, 2021
VolvoGirl
Level 15

Unemployment refund and Child Tax credit

Are you sure the payment you got was for the Child Tax Credit?  Maybe it was for the unemployment or the latest 3rd Stimulus payment or something else.

kemo1a
Level 3

Unemployment refund and Child Tax credit

Unemployment owed should be close to 1100.  300 matches what child (2 kids)  tax credit is suppose to be so honestly not sure and there is no way to tell.

xmasbaby0
Level 15

Unemployment refund and Child Tax credit

No----$300 does not match the amount for two children's child tax credit payments.  The CTC for one child under the age of 6 is $300; the CTC for one child who will be older than six at the end of 2021 is $250.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
rjs
Level 15
Level 15

Unemployment refund and Child Tax credit

@kemo1a 

Did you and your spouse both opt out of the advance payments of the Child Tax Credit? When you file jointly you both have to opt out. Otherwise you will still get payments. See Question J6 at the following link.


2021 Child Tax Credit and Advance Child Tax Credit Payments — Topic J: Unenrolling from Advance Paym...


Also note that it can take up to two weeks for your opt out to take effect. See Question J2 at the same link above.

 

Critter-3
Level 15

Unemployment refund and Child Tax credit

Again the CTC system is new and glitchy so you may have opted out too late for the july payment and you got the one payment  however another possibility is if   you are married then your spouse may also have to opt out ... so if you still got a payment for one child after you only opted out   then a married couple with 2 kids may be in the system as parent #1 + one child and  parent #2 + one child.  

rjs
Level 15
Level 15

Unemployment refund and Child Tax credit


@kemo1a wrote:

I understand your generic answer that release said it would be paid out by June it is now August I am looking for a more updated response unless there is none.


@kemo1a 

The more recent IRS news releases say that they would start to send out the unemployment refunds in May, and continue through the summer. Summer ends September 22. Of course, that's just an estimate. It could end up taking longer than they expect.

 

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