Child Tax Credit Advance to Start in July

The IRS has announced they are on track to start the advance payment of the child tax credit starting in July.  This program will provide monthly payments to taxpayers ahead of their 2021 tax return filing.  The IRS intends to launch a portal July 1st where you can track your payments, make adjustments for new dependents or opt out.

For 2021, taxpayers can receive a credit of $3,600 for each dependent under 6 and $3,000 for those under 18.  In addition, the tax credit will be fully refundable in 2021, so lower income taxpayers can take advantage of the credit.

You can click the link below to read more about the enhanced child tax credit for 2021.

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