Understanding The Advanced Child Tax Credit

Dr Friday Tax Tips - One Minute Moment
Dr. Friday Tax Tips
Understanding The Advanced Child Tax Credit

Dr. Friday 0:00
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to www.drfriday.com. This is a one-minute moment.

Dr. Friday 0:12
The Advanced Child Tax Credit. This is something we haven’t had to deal with. And now that we’re into the 2021 tax season and we’re preparing forms, people are getting a little bit of a surprise because we received advanced credits, correct? You know what you had going and you received this advanced credit. But wait, now they’re taking it off your tax return and people are finding out that they either didn’t qualify that they needed that money to actually cover their tax debt, or that they are getting much smaller refunds even though they increase the Child Tax Credit. Make sure that you understand how this is affecting you before you file your taxes.

Announcer 0:51
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