The maximum credit amounts and income limits for the Child Tax Credit differed in 2021 from other years. In addition, many taxpayers received advance CTC payments, and had to reconcile these payments with their actual credit amount on their 2021 tax returns. The IRS recently provided information to help taxpayers who still have questions about their 2021 CTC.
Q: I filed my return electronically but made a mistake reconciling my CTC. What should I do?
A: Wait to hear from the IRS, and understand that the processing of your return may be delayed. DO NOT file an amended return.
In most cases, IRS personnel will simply correct your CTC amount and adjust your refund amount or amount of tax you owe accordingly. You will receive an official IRS notice by mail that explains the change.