Tax professionals
Taxpayers who qualified for a Child Tax Credit in 2024 and expect to qualify again in 2025, may choose to receive advance payments on this year’s Schedule M1CWFC. They can receive up to 50% of the current year child tax credit in advance payments.
Taxpayers must file an original 2024 tax return by April 15, 2025, to choose advance payments. If they amend their return, impacting their child tax credit, we will stop advance payments. Taxpayers may choose to stop receiving advance payments through e-Services, contacting us at 651-296-3781 or 800-652-9094, or emailing our division <
[email protected]> with questions about this.
*Talk to Your Clients*
As a tax professional, it is important to help your clients decide if advance payments of the child tax credit are right for them. While the new Minimum Credit provides a safety net by addressing your clients’ concerns that advance payments may need to be repaid under certain circumstances, having a direct conversation about certain factors will help make a more informed decision.
These factors may impact advance payments:
* Age of qualifying children
* Minnesota residency changes from full-year to part-year
* Alternating parents claim children
* Divorce
* Significant increases to income
* Current Supplemental Nutrition Assistance Program (SNAP) payments
For more information, check out our Advance Payments of the Child Tax Credit page [ [link removed] ] on our website.
For an estimator of how advance payments affect SNAP benefits, requirements, and other related information, visit the Minnesota Department of Children, Youth, and Families website [ [link removed] ].
*Questions?*
Contact us.
*If you*
*Then*
Need help with your clients’ accounts and have power of attorney on file with us
Contact the appropriate tax division [ [link removed] ]
Have questions about tax law changes
Email our Tax Law Changes Team <
[email protected]>
Have general questions, need time-sensitive assistance, or have feedback or an idea for a tax pro tip
Email our Tax Pro Outreach Team <
[email protected]>, or call 651-556-6606
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