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How much money are parents protected from having to pay back on their 2022 taxes for child tax credit with repayment protection?

If a parent or guardian qualifies for the repayment protection come tax season on the checks they received in 2020, the excess funds they received will be reduced by up to the full repayment protection amount.

The full amount is $2,000, multiplied by the number of qualifying children the IRS counted when they determined the estimate of advanced child tax credit payment, minus the number of children taken into account when determining the allowed child tax credit dollar amount for the 2021 tax return.


For example: If three children were claimed in 2020, and only one child is claimed in 2021, a parent can receive up to $4,000 in repayment protection.

Individuals are able to apply the entire amount of $2,000 for each child if the following criteria is met regarding AGI:

$60,000 if you are married and filing a joint return or if filing as a qualifying widow or widower;

$50,000 if you are filing as head of household; and

$40,000 if you are a single filer or you are married and filing a separate return.



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