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Casey
#1 Posted : Wednesday, August 11, 2021 12:05:07 PM(UTC)
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Casey

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Groups: Administrators
Joined: 9/27/2013(UTC)
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Location: http://www.halfpricesoft.com/

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COVID Tax Tip: Advance Child Tax Credit Payments in 2021
https://www.irs.gov/cred...-credit-payments-in-2021

"Important changes to the Child Tax Credit will help many families get advance payments of the credit starting this summer. The IRS will pay half the total credit amount in advance monthly payments beginning July 15. You will claim the other half when you file your 2021 income tax return. These changes apply to tax year 2021 only.

To qualify for advance Child Tax Credit payments, you — and your spouse, if you filed a joint return — must have:

- Filed a 2019 or 2020 tax return and claimed the Child Tax Credit on the return; or
- Given us your information in 2020 to receive the Economic Impact Payment using the Non-Filers: Enter Payment Info Here tool; and

- A main home in the United States for more than half the year (the 50 states and the District of Columbia) or file a joint return with a spouse who has a main home in the United States for more than half the year; and

- A qualifying child who is under age 18 at the end of 2021 and who has a valid Social Security number; and

- Made less than certain income limits.


We’ll use information you provided earlier to determine if you qualify and automatically enroll you for advance payments. You do not need to take any additional action to get advance payments."


You can visit IRS site to check if you’re enrolled to receive payments.

Edited by user Wednesday, August 11, 2021 1:07:04 PM(UTC)  | Reason: Not specified

Casey
small business payroll & tax software solution
http://www.halfpricesoft.com
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