Extra $3000 (ctc opt out)

This topic has 2 replies, 1 voice, and was last updated 3 years ago by Stuffed91.

Topic Starter
February 20, 2022 at 1:36 pm #4514421
Mrs.Mac2021
If I opted out of the CTC before the first payments went out, will I be credited an extra $3000.00 with my tax refund?

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- February 20, 2022 at 6:48 pm #4514499
  Stuffed91
  No, it isn’t an extra $3,000.. the child tax credit is $3000 for kids older than 6, $3600 under 6. They gave out half the credit as payments last year and planned to let us get the other half at tax time. If you opted out then you would get both halves, but not an extra $3000. Also, it would have been calculated already when you did your taxes, it’s not something they’ll just add on to your refund after you file.
- February 20, 2022 at 6:16 pm #4514494
  JD
  If you did not receive the 6 monthly installments, then yes you should get that money on your tax return. But you have to make sure you verify that you did not receive those payments when you do your taxes. You should have received a letter from the IRS verifying you did not receive the early payments are due to the credits.
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