You may have to pay back some of the new $3,000 child tax credit

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Tax returns

Online portal

When will the portal be available?

$2,000 protection

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Single filers with less than $40,000 in income qualify for the full “safe harbor” amount. (Heads of household and married couples filing a joint return qualify if their income is less than $50,000 and $60,000, respectively.)

The $2,000 protected amount gradually phases out as one’s income rises. Single filers with more than $80,000 of income (or, $100,000 for heads of household and $120,000 for joint filers) wouldn’t be shielded from any overpayment.

“People shouldn’t rely on that,” Walker said of the safe harbor.

“What I would tell taxpayers is, pay attention to when the portal is available,” she added. “And think about what might be happening in 2021 that might affect the [credit] amount.”

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