If you receive a notice from the IRS advising you that they are adjusting the Child Tax Credit/Advance Payment on your return, you will want to verify that the amounts of the advance child tax credit payments you reported are correct. You will also want to verify the information entered for your dependents.
When you enter the dependent information that flows to Form 1040 in the TaxAct program, the child's data (social security number, year of birth, relationship, number of months lived with you, etc.) needs to be entered correctly for the child tax credit to properly calculate. If you're not sure how to enter the dependent information, you can click the Information Icon that appears on some of the screens or look at Form 1040 for more information.
To enter, edit or review a dependent in the TaxAct program:
To review your calculated child tax credit (your credit amounts have been automatically calculated based on the dependent and income information you entered):
If you have confirmed that you reported your information correctly in the TaxAct program, you will want to contact the IRS at the number provided to find out why the IRS is not allowing you the full amount of this credit.