Impact of 2021 payments on taxes, continued
Also, if your income changes and you don’t report it to the IRS, you may receive a larger or smaller refund, or may even owe the IRS, Cnet reported.
That depends on whether your income is higher or lower than what the IRS used to calculate your payments.
However, if you opted out of payments last year, your payment for the child tax credit will be larger this year.
Furthermore, if you received money for a child who turned 18 last year, you may have to return the money to the IRS.
https://www.the-sun.com/money/4580385/child-tax-credit-2022-irs-stimulus-dependent-form/ Child Tax Credit Update 2022 – $5K ‘stim’ cash can be claimed as IRS form, letter and child dependent amounts revealed