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August 31st, 2021

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We understand learning about the advance Child Tax Credit payments may be difficult. We have gathered answers to FAQ to assist you in this. All answers are from https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-topic-a-general-information, for more details about the Child Tax Credit please visit their website. 

Have you heard about the Child Tax Credit? 

 

Frequently asked Questions on the Child Tax Credit: 

What are advance Child Tax Credit payments?

Advance Child Tax Credit payments are early payments from the IRS of 50 percent of the estimated amount of the Child Tax Credit that you may properly claim on your 2021 tax return during the 2022 tax filing season. If the IRS has processed your 2020 tax return or 2019 tax return, these monthly payments will be made starting in July and through December 2021, based on the information contained in that return.

 How much will I receive in advance Child Tax Credit payments

 Your total advance Child Tax Credit payment amounts will equal half of the amount of your estimated 2021 Child Tax Credit. This amount is then divided into monthly advance payments to you.

As a result:

  • For each of your qualifying children age 5 or younger, generally you will receive $300. That is determined by dividing $3,600 in half, which is $1,800. Six monthly payments of $300 will provide you with $1,800.

  • For each of your qualifying children ages 6 to 17, generally you will receive $250. That is determined by dividing $3,000 in half, which is $1,500. Six monthly payments of $250 will provide you with $1,500

 How do I qualify for the Child Tax Credit?


You qualify for advance Child Tax Credit payments if you have a qualifying child*. Also, you — or your spouse, if married filing a joint return — must have your main home in one of the 50 states or the District of Columbia for more than half the year. 

*A qualifying child is a child under 18 years of age. 

What do I need to do to receive advance Child Tax Credit payments? 

Generally, nothing. If you are eligible to receive advance Child Tax Credit payments based on your 2020 tax return or 2019 tax return (including information you entered into the Non-Filer tool for Economic Impact Payments on IRS.gov in 2020), you generally will receive those payments automatically without needing to take any additional action.

You must take action if you have not filed your 2020 tax return or 2019 tax return. To learn more on this, please visit the IRS website listed above. 

Do I need income to receive advance Child Tax Credit payments? 
 No. Even if you have $0 in income, you can receive advance Child Tax Credit payments if you are eligible. 

Will advance Child Tax Credit payments affect any government benefits that I receive?

No. Advance Child Tax Credit payments cannot be counted as income when determining if you or anyone else is eligible for benefits or assistance, or how much you or anyone else can receive, under any federal program or under any state or local program financed in whole or in part with federal funds. These programs also cannot count advance Child Tax Credit payments as a resource for purposes of determining eligibility for at least 12 months after you receive it.

How will I receive my advance Child Tax Credit payments? 

 If the IRS has received your banking information, your payment will be sent to you as a direct deposit. We will use bank account information from the following sources, in the following order:

  • Your 2020 tax return.

  • Your 2019 tax return, including information you entered into the Non-Filer tool on IRS.gov in 2020.

  • A federal agency that provides you benefits, such as: Social Security Administration, Department of Veterans Affairs, or the Railroad Retirement Board.

If we do not have bank account information to issue you a direct deposit, we will send your advance Child Tax Credit payments by mail. We will issue Advance Child Tax Credit payments on July 15, Aug. 13, Sept. 15, Oct. 15, Nov. 15 and Dec. 15.

Will receivng advanced Child Tax Credit Payments cause a delay in my refund when I file my 2021 tax return next year? 
 No. 

What if I do not want to receive advance Child Tax Credit Payments? 

 If you prefer not to receive monthly advance Child Tax Credit payments because you would rather claim the full credit when you file your 2021 tax return, or you know you will not be eligible for the Child Tax Credit for your 2021 tax year, you can unenroll through the Child Tax Credit Update Portal (CTC UP).

For more information on the advanced Child Tax Credit Payments lease visit the IRS website directly at, https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-topic-a-general-information 

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