CTC Payments – Get rest on return

[bowl]

We have a question for everyone in regards to those that got the Advance Child Tax Credit Payments for July through December 2021.

Correct us if we’re wrong, but didn’t the fine print read that if you opt to receive the payments that you would get the other half of them when you file you 2021 return?

We were going through the HR Block online filing as we always do and it asked us the questions in regards to the CTC/ACTC payments. The problem is when it shows us the total amount for our refund, it literally is about the same amount that it always is and does not reflect the additional amount added for the Child Tax Credit like the government stated that everyone would get the other half when you file your 2021 taxes.

Any one else seeing this same issue or what is going on?

[bcherie22988]

I was confused for a bit too i had to look back at last years return vs this years before i filed them and the major difference is that THEY GOT RID OF THE ADDITIONAL CHILD TAX CREDIT that was refundable up to 1,400.00 per child dependent. on last years tax return line 28 was for the ACTC, this year line 28 is for the Child Tax Credit .ACTC was only in effect from 2018-2020. Its too bad that Biden did not renew that one as well as raising the child tax credit.

[bcherie22988]

its less because the ACTC Additional child tax credit Expired in 2020 tax season. that gave an extrra 1,400.00 per child . thats also probably why its less. look at your last years return line 28 vs this yrs line 28 and you will see they are not the same.

[Tax2TheFuture]

You would be getting less than previous years, since this time half of the credit was already given to you, except that the total refundable amount of the credit was increased and that is why it is the same or close instead of much less.

[sam]

we received $1800 total in payments from July to December and will be receiving the other $1800 with our refund which makes the refund about the same as last year. Your refund will only be more if you didn’t receive the early payments.

So, if you received the early payments, then you already got the additional amount

[LambFran]

@hiloshark That is correct. The total amount for one child is 3k or 3600 (depending on childs age), so half of that was paid throughout the year (1500 or 1800) and the other half when you file your taxes.

[LambFran]

@bowl Did you opt in to the advance payments. Because if you did, then you getting about the same amount as usual seems about right. (unless your income wildly increased or decreased compared to last year). But if you opted out (wanted the lump sum instead) you should be getting between 12 000 or 13 000. again pending on no major income changes or other tax situations.

[bowl]

What doesn’t make sense is it clearly stated before the payments started in July 2021, that if you get payments now you will get the other half when you file you taxes.
In our case, we typically get between 9,000 and 10,000 on our refund every year.If we are suppose to get the other half of the payment when we file our return, it dont showwhen we go to file our taxes with a free online service. It literally shows about the same amount that we usually get and this is why we are confused

[Taxtimetwentytwo]

I have the same question. I took no payments from the CTC over the summer so I can get it all at once but when I enter that into TurboTax it says I should get a credit of $3600 but the amount of my refund never changes. I use the web version. Are we just trying too early?

[hiloshark]

im confused. i thought we were supposed to get 3k .1500 in 2021 in payments and a lump sum payment on our taxes. now im learning this isnt the case? my return just fell by 1500. im really confused.

[Rhi]

I don’t use accountants because it takes away from my refund but yes if you were owed that refund and opted out you should be getting it in return. I always like to use a couple different websites mostly TurboTax and enter my information to see what refund I will get and if I were to use the accountant compare their refund to that of a free online service

[Author]

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