QUESTION
Am I able to keep the monthly child tax payments from the government if I claimed my son in 2020 and his father is claiming him for 2021?
Asked on Jul 26th, 2021 on Child Support - New Jersey
More details to this question:
My son’s father and I were never married but courts have decided that we would claim my son every other year. My son is 15 and has not seen or heard from his father since he was about 4. Since I claimed my son in 2020, the monthly child tax payments are coming to me. His father is telling me that since the payments are early payments for 2021 then they are suppose to be going to him. Am I going to have to pay this money back if I continue collecting it?
1 ANSWER
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Interestingly enough, under the new Advance Child Tax Credit program created by the Federal government to assit families impacted by the pandemic, because you filed personal income tax returns in 2020 claiming a child as a dependent, the IRS will pay you a monthly sum per month starting in July ( through the end of the year) and when your ex files his personal income tax returns for 2021, he can receive the remainder credit ( 50% paid to you in monthly installments based on your 2020 tax filing and the remaining 50% paid in connection with the filing of 2021 returns).
Answered on Jul 27th, 2021 at 10:28 AM