Accountant-Man
Level 12

Like many years ago with the increasing child tax credit, there was a pre-payment of the additional $400 per child. When the actual year's return was filed, the TPs were required to enter the amount already received so there would be no double dipping.

AND there was to be no repayment of the extra amount in the real year of the increase.

IE, I had two small children, and just so happened to file MFS and claim both in the prior year. In the prior year I was entitled to the full $600 each, so I received $400 as prepayment. IN THE REAL YEAR, we filed MFJ and our income was too high to get any credit. but...

WE DIDN'T HAVE TO REPAY THE EXTRA AMOUNT.

** I'm still a champion... of the world! Even without The Lounge.
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