Reply To: Child Tax Credit Advance Payments

So I just did a bit of research and I discovered another possible issue that I hadn’t thought of:

The advance payments are being calculated based on last year’s tax returns. If your situation changed between last year and this year (e.g. income significantly higher, children no longer eligible) then the advance payments will be higher than they should be, and when you file you will have to pay back whatever you were overpaid.