So youre eligible for $3,600 in child tax credits. Heres what that means for taxes in 2022 How will child tax credit payments affect your taxes in 2022? Sarah Tew|CNET Do you know if youre eligible for child tax credit payments this year? Its a good chance you are: As many as 92% of families with children will qualify for the money, which will be sent out July 15. But if you get payments this year, will that make tax time more costly next year when you file your federal income tax return? If you qualify, youll automatically receive the first half of your advance payments in monthly installments beginning in July and ending in December. The remainder of your money will come when you file your taxes in 2022. But its not quite that simple, because youll need to do some math when you file to see if you received too much or too little. Well explain what you need to know about how the child tax credit payments may affect your taxes in 2022 and what youll need to do when you file next tax season. For more, heres what to do if you arent normally required to file a tax return, three ways to know if you qualify for the child tax credit for the child tax credit and how to quickly estimate how much money you could get in all, now that the portals are open.