Child Tax Credit guide for filing your 2021 taxes

Child Tax Credit guide for filing your 2021 taxes
Published: Jan. 4, 2022 at 5:35 PM CST
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BATON ROUGE, La. (WAFB) - It’s important that if you got any of your child tax credit starting last summer, you pay attention to your mail now.

You will get sent a letter from the IRS on how much child tax credit you received, according to Brad Tate, a local CPA. That will help you figure out how much you could get this year, or even if you owe anything.

Tate said if you had a significant increase in income from 2020-2021, you could possibly owe money. But, many families will still benefit from the child tax credit.

“For a lot of families at the lower income levels a 3,600-tax credit could make a lot of difference there have been reports that people really have been utilizing these to help their families out as we have gone through so much in the last year or so, they’ve been very beneficial to families,” Tate said.

Tate said because the child tax credit was expanded to where people got payments in advance in 2021, they will claim the other half on their taxes this spring.

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