One parent posting on Twitter wrote, “My wife and I made just [$50,000] last year and the IRS page said we are not eligible for tax credit of our kids,” adding that “they are 5 and 4 years old.”
Understandably, there is a lot of confusion around the child tax credit payments. The rules are complicated. Hopefully, the following answers will clear up some of the concerns you may have.
What to know
- We have five children — 17, 11, 9, 7 and 5. We received a $1,000 child tax credit payment. Shouldn’t we have received $1,300? We make under $150,000 a year.
- My husband won’t cash our kids’ child tax credit check, because he says we might have to pay the IRS back. Will we have to pay this money back?
- Is there any protection for lower-income parents against having to pay back overpaid credits if their financial or family circumstances change during 2021?
- We have a toddler, and I got into the portal and opted out. However, I saw a message that I had opted out of only half of the payment. Does my spouse have to opt out too?
- Will these payments count against me for federal benefits such as Supplemental Security Income (SSI)?
- We haven’t filed any return with our child on it yet. When can I use the online portal to add a child?