In 2021, the IRS sent out Advanced Child Tax Credit payments to qualified families, using the data from 2019 and 2020 tax returns as an estimate. However, since it was just an estimation, the payments received must be reconciled on the 2021 tax return. Watch this video for details.
Sign up for our newsletter.
You can count on us for professional, timely and reliable tax and accounting services. If you’re ready to get started, just fill out this form and we’ll be in touch.