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Child Benefit and Your Tax ReturnexplainedKWA Tax 2022

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Reason and we hope you're getting a jump on your 2021 taxes right now, especially as the IRS continues to process millions of 2020 returns are. Suzanne Bruner has some updates on some important changes to the child tax credit that you should know about before filing this year. The child tax credit has increased from $2000 to 3600 for 2021 taxes. You're gonna get 3600 per child under 6 and 3000 per child 6 to 17 years old. However, these amounts will be lower if you received the advanced Child Tax Credit last year. Remember half of that total credit amount was paid in advance. Monthly payments between July and December of 2021, you're going to claim the other half when you file your 2021 income tax return. So who qualifies? This applies to any custodial, parent, or grandparent who has a child that stayed with them for more than half a year and provided a majority of the care for the child. There are income limitations that apply as well, so married couples making less than $150,000 and

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