According to the IRS, taxpayers will need to use Letter 6419 to file their 2021 tax return to compare the advanced payments they received last year with the remainder of the child tax credit they are owed and can claim on their return."Advance Child Tax Credit payments areof 50 percent of the estimated amount of the Child Tax Credit that you may properly claim on your 2021 tax return during the 2022 tax filing season," the IRS explains on its website.
Taxpayers received payments in accordance with the number of children they have and their age. For each qualifying child 5 years old or younger, people should receive $3,600 in total from the child tax credit. This would have been divided up into $300 each month last year for a total advanced payment of $1,800. In terms of children ages 6 to 17, taxpayers should have received $250 each month per child for a total advanced credit of $1,500.
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