IRS: Watch Out For Child Tax Credit Letter!
Letters to be distributed - Starting December 2021!
The letter will include the total amount of advance Child Tax Credit payments taxpayers received in 2021 and the number of qualifying children used to calculate the advance payments.
People should keep this and any other IRS letters about advance Child Tax Credit payments with their tax records.
Families who received advance payments will need to file a 2021 tax return and compare the advance Child Tax Credit payments they received in 2021 with the amount of the Child Tax Credit they can properly claim on their 2021 tax return.
The letter contains important information that can make preparing their tax returns easier.
People who received the advance CTC payments can also check the amount of their payments by using the CTC Update Portal available on IRS.gov.
Read more here at IRS.GOV
Child Tax Credit Update Portal
Important changes to the Child Tax Credit will help many families get advance payments of the Child Tax Credit starting in the summer of 2021.
Half the total credit amount will be paid in advance monthly payments and you will claim the other half when you file your 2021 income tax return.
We’ll issue the first advance payment on July 15, 2021. For a full schedule of payments, see If I’m eligible to receive advance Child Tax Credit payments, when will I start receiving payments?
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