Category Archives: child tax credit

Child tax credit shared custody

Shared Custody and Advance Child Tax Credit Payments

child tax credit Parents who share custody of their children may be confused about how the advance child tax credit payments are distributed. As such, the first step is to remember that these are advance payments of a tax credit that taxpayers expect to claim on their 2021 tax return. Understanding how the payments work will allow parents to unenroll, if they choose, and possibly avoid a possible tax bill when they file next year.

Let’s take a look at four of the most common questions about shared custody and the advance child tax credit payments:

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