Additional Child Tax Credit 2020 Refund Schedule. 2020 instructions for schedule 8812. 2020 & 2021 child tax credit qualifications, maximum credit & refundable amounts, agi income and previously, the child tax credit was only refundable if you filed for the additional child tax the child tax credit amount that may be refunded is equal to 15% of earned income (see my post.
If any part of your credit is left over after eliminating your tax debt, the irs will send you a refund of up to $1,400.
Congress passed a new law that requires the irs to hold onto federal tax refunds that include the additional child tax credit below is an estimated 2021 irs refund schedule (2020 tax year) based on previous tax refund schedules released by the irs. Up to $1,400 of the credit can be refundable for each qualifying child as the additional child tax credit. Like other taxcredits, the child taxcredit reduces taxliability dollar for dollar of the value of the credit. Tax refund schedule for extensions and amended tax returns.
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