Child Tax Credit January 2022: When could CTC payments start in 2022?

With no Child Tax Credit payments to be sent in January, many families around the United States would have been left worrying about income. But everybody can rest assured that more money will come in when tax returns are filed for.

Filing taxes in 2022 will give you the chance to make up for some of the money you didn't receive in 2021, and those who, for example, opted out of the payments or had a baby late in the year will be told hold much money they are to receive.

How much Child Tax Credit money will you receive with your tax refund?

If you and your family meet the eligibility requirements and you received each payment from July to December 2021, the Child Tax Credit payments are likely to be 1,800 dollars for each child aged five or under when the 2021 taxes are filed, or 1,500 dollars for children between six and 17 years old.

People who opted out of the payments before the first check went out will receive the full amount at once, being up to 3,600 dollars per child aged six or under, and 3,000 dollars per child up to 17.

Will this affect 2022 taxes?

The Child Tax Credit payments could affect 2022's taxes, one way or another, if:

• You received an overpayment and the IRS didn't adjust the amount of your last payments.
• You received payments you didn't qualify for.
• Your income changed and wasn't reported to the IRS.
• You opted out of last year's payments, this will make 2022's larger.
• You received money for a child you turned 18 last year, that money may have to be repaid.