Hal
Level 1
‎03-30-2022 12:31 PM
Father claims child in even years.  He got 750 advance credit in 2021 and the IRS letter 6419.  On form 8812 it shows he owes 500 back.  Is this right?
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sjrcpa
Level 15
‎03-30-2022 12:46 PM

Could be. You have to pay some or all of it back if you're not eligible for the credit in 2021 (unless you're at the low income point)


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The-Tax-Lady
Level 9
‎03-30-2022 12:57 PM

If the father is filing as single and has an AGI of $40,000 or less there is no repayment. $40,000-$79,999 AGI is a partial repayment. AGI $80,000 or over, requires full repayment of the ACTC, if the dependent cannot be claimed on the 2021 return.

 

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qbteachmt
Level 15
‎03-30-2022 01:58 PM

He got some money because no one updated the CTC portal to show it wasn't qualified for this year. The taxpayer has some responsibility for their own life.

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