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22 June 2021

Big news about the Advance of Child Tax Credit Payments

The IRS turned on two new online tools!  These tools are related to the new advanced payments of the Child Tax Credit.  (Note: if you don’t have dependents 17 or under you can tune-out now)

Here are the two online tools:

  1. The new Child Tax Credit Eligibility Assistant allows families to answer a series of questions to quickly determine whether they qualify for the advance credit.
  2. The Child Tax Credit Update Portal allows families to verify their eligibility for the payments and if they choose to, unenroll, or opt out from receiving the monthly payments so they can receive a lump sum when they file their tax return next year.

We have been anxiously awaiting these tools and I wanted to let you know they are ready to go!

The full IRS Press Release provides details about the Child Tax Credit and other online tools.

Listen, if you have any questions – ask now! You don’t want to be playing catching up on this one.

Jeff Roltgen, Tax Rescue CPA

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