Ask Terry Questions child tax credit

child tax credit

By Terry Savage on May 22, 2021 | Wild Card

If I receive the child tax credit monthly starting in july, when I file my taxes next year will I still get a child tax credit on my taxes?

Terry Says

This is an advance credit for the year 2021. So it depends on whether they continue the monthly payments into 2021 — or end them in December. In the latter case, they would apply half the refundable credit on your 2021 tax return. We will have to see how they decide to handle it. But you will get the full amount, either way.

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