Yeppir, that it will.

This is NOT the first time Congress has decided to give TPs advance tax credits, requiring them to know or remember that they were paid in advance and must NOT be claimed on the return. EIP #1 and EIP #2 are the most recent, with EIP #3 and Advanced CTC happening again for 2021.

We had this many years ago, too, when they raised the CTC from $600 to $1,000 and paid the extra $400 in advance. Ah, the good old days.

I guess we just have to suck it up, AGAIN, and hope that most of our clients have functioning brains.