COLUMBUS, Ohio (WCMH)–The advanced Child Tax Credit payments from July to December have stirred a lot of questions from parents this tax season.
Is the money I received from the government considered income?
“The Child Tax Credit payments were not considered income,” said the founder of Dugan Brown Federal Retirement Experts Wayne Brown.
If you did not receive the payments, don’t worry. You’ll receive the credit when you file your 2021 income taxes.
What if my marital status changed?
“If you got a divorce in 2021 and were collecting the payment and did not have custody of the child you may have to return some of the money,” Brown said. “Every situation is different. So we recommend talking to a certified financial or tax professional.”
You can listen to the entire interview in the video player attached to this article.