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The Advance Child Tax Credit and your Taxes

Updated: Sep 12, 2023

This filing year, it is required for the Advance Child Tax Credits to be reported on your tax return.

When you file your 2021 tax return, we will need to compare the total amount of the Advance Payments that you received during 2021 with the amount of the Child Tax Credit that you can properly claim on your 2021 tax return.

What If I Did Not Get the Advance Credit but Should Have?

If the amount of your Child Tax Credit is more than what you received in advance payments, you can claim the remaining amount of your Child Tax Credit on your 2021 tax return.

What If I Got the Advance Credit, but Should Not Have?

You qualify for full repayment protection and won’t need to repay any excess amount of your advance Child Tax Credit payments if your main home was in the United States for more than half of 2021 and your modified adjusted gross income (AGI) for 2021 is at or below the following amount based on the filing status on your 2021 tax return:

  • $60,000 if you are married and filing a joint return or if filing as a qualifying widow or widower

  • $50,000 if you are filing as head of household

  • $40,000 if you are a single filer or are married and filing a separate return

Where Do I Find Out How Much I Got For The Credit?

The following are ways that your tax preparer can verify the credit amount that you received.

  • IRS Letter 6419 BOTH the taxpayer and spouse will receive IRS letter 6419 to reconcile the received payments with what is still owed. If you have the Notice, please include it with your tax papers.

  • Bank Statements If you did not keep the IRS Notice, you can also show proof of the credit amount received using your bank statements. You will need a statement for each month to confirm the amount. This will allow your preparer to verify the amount that you are claiming on your tax return.

  • IRS Portal You can also securely access and view your tax information anytime through their individual online account.

Please Note: Any incorrect information about your Advance Child Credit

amount can result in delayed or altered refunds.

Additional Resource Links:

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