child tax credit 2022 calculator
The calculation for this credit can get more complicated so its advised to use tax software or contact your tax advisor. The additional child tax credit is available to those who earned over 3000 of income and did not claim the full child tax credit.
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Part 2 of Schedule 8812 will be used to claim the refundable Additional Tax Child Credit.
. When you claim the child tax credit on your 2021 taxes you will calculate the exact credit you qualify for based on your final 2021 income subtract the amount of your advance payments since the advance payments are technically just prepayments of your child tax credit and then the remaining amount will further reduce your tax liability how much tax you owe for.
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