In 2021 congress revised the Child Tax Credit amounts for certain income levels. Part of the bill also required half of the credit to be paid out monthly from July-December 2021.
The current child tax credit is $2,000 per child. However, if you earn less than:
Single/MFS Filer: $75,000
Head of Household Filer: $112,500
Joint Filer: $150,000
You are eligible to receive the expanded child tax credit. The expanded credit is:
Age 0-5: $3,600 per child
Age 6-17: $3,000 per child
Tax Planner Pro uses your tax projection to determine which credit you are eligible for.
However, it then only shows 50% of that credit on your projection, as it assumes you received the other half via monthly distributions from the IRS. If you did not, you can override the credit in the data entry.