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Common questions about the advance child tax credit payments

In the COVID Tax Tip 2021-117, the IRS reminds and clarifies advance child tax credit information to the taxpayers. Note that the advance child tax credit is an early payment on potential tax credits (these are estimates) to be claimed on their 2021 tax return during the 2022 tax filing season (January to April 2022).

By |2021-08-12T15:19:58+00:00August 12th, 2021|Categories: Individuals|Tags: , , , |

Advance Child Tax Credit for 2021

From this summer (2021), there will be significant changes to the Child Tax Credit. Instead of paying the tax credit when the tax return is filed (usually as a tax refund to the taxpayer), the IRS plans to make advance monthly payments beginning July 15, 2021. You will claim the other half when you file

By |2021-06-24T16:37:57+00:00June 24th, 2021|Categories: Individuals|Tags: , , , , , |
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