Right now we have Kevin Robinson
from Robinson tax and accounting
and Ryan Dodson from Liberty Tax
Services and in the break and
everything we were all talking about
all of the different questions.
So sorry that you got a little
bit in on that.
This person is asking what happens when
you haven't received your first tax
credit that was mailed back in July.
I received August and I received September.
I filled out the paperwork,
but I'm still waiting on a
response from the IRS Ryan.
Yeah, so if everybody should receive a
letter in January from the IRS saying
exactly how much they received in a
with the advanced Child Tax Credit.
And if for some reason they
did not receive that money,
you just really want to double check
that that letter to make sure it matches
up to everything that you received.
If it says you received it and you didn't,
then of course you need to contact the IRS
to ask him to track down their payment.
If for some reason it totally reflects
the correct amount that you did receive,
then of course.
We'll just make it up on the
tax return when we file that
return in 2022, so unfortunately this
is kind of like wait and see because
at the moment contacting the IRS is
almost near impossible. Am I right?
Yes, that's pretty much this.
It's just throw the roll, the dice,
and probably probably won't.
They'll land a low number,
low chance of getting through to him right
now. Alright, so one of the best keys that
they have told us to do and to pass on
to you is for you to make an IRS account
and that is on the irs.gov website.
When you make that IRS account,
it's going to show you all of the things
that the IRS has going on and what they've
mailed to you or not mailed to you,
and that is going to be your best
bet right now because the IRS is
not answering questions. Hey Ryan,
this person is asking why don't I get it?
If my kid turns 18 in November.
As such, the unfortunate situation
because the child tax credit is
applicable to those that are 17 and under.
So if the child turns 18,
even if that is on December 31st of 2021,
if they turn 18, you're not
eligible for the child tax credit.
That's just unfortunately the
way the law works.
That is, the way that it works.
Anytime that the child turns 18 in this year.
Alright, so Kevin, this person says
if the parents are divorced and each
one claims a child every other year,
where is the money going?
If the option to.
Opt out isn't taken so their child was
17 and under they did not opt out.
So who's supposed to be getting the money?
Well, I would think it would be on the
latest tax return they have on file
and who claimed the child at 2020.
The last return that the child
is showing up as a dependent.
Then typically it should be going to the
parent claiming him on the 2020 return.
If by chance they haven't filed 2020 yet,
then they're based on 2019,
so should be going to the one claiming
the child on the latest return that
the IRS has has in place to and I
will also add that there is even
though the child could be 18 and
they would not get the two or the
you know the advanced child credit.
The other dependent credit.
Of $500 would come into play,
but this advance would not so
OK, so that's a good key for those
of you who have a child who is
turning 18 any point in this year,
there's a $500 credit that
you can get during tax time,
but you can't get these advanced
child tax payments right.
Hey Ryan, this person says I just
amended my tax return and I did not
receive my child tax credit today.
So when am I going to get it?
Well, unfortunately that like you said early,
as they are with answering the phone,
the IRS has backed off and
with processing tax returns,
especially amended tax returns,
the IRS is backed up just as well.
If you followed electronically,
you're going to have a little bit
better chance of getting that in and
being able to start to receive those.
The advanced Child Tax
Credit if it was paper filed,
it may be a case where the entire thing is,
you're going to file for the
entire child tax credit on
your tax return when you file
next year all right,
and then this question I got from
somebody is we just had a child this year.
When can I add my child to the IRS website?
Well, the answer is it's
supposed to be later this summer.
So we are like waiting every single
day for it to pop up on the IRS site.
Their portal only allows you
right now to change your banking
information and your address.
It does not allow you to add a dependent.
It does not allow you to change
your marital status or your income,
but that is coming and we're
going to keep you updated guys.
Thanks so much for lending your
time and your expertise to these
tax related questions.
If you missed anything it will be
in the two wants to know section.