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Knaub & Company, PC
Certified Public Accountants
78 Meadow Village Drive, Suite E
PO Box 161030, Big Sky, MT 59716
Phone: 406-995-6040
Fax: 406-993-2772
Email: knaubco@3rivers.net
The American Rescue Plan Act, signed into law in March 2021, made significant changes to the child tax credit for 2021 only -- unless Congress extends these changes.
The remaining amount due to you will be credited when you file your 2021 tax return. However, if you file your 2021 tax return and the advance payments you received exceeded your actual credit, with a few exceptions for low and moderate-income taxpayers, you’ll have to repay the excess.
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