Child Tax Credit(CTC) 2021 Advanced Payments

You may be eligible to receive advanced payments of the Child Tax Credit (CTC). If you are eligible and want to receive these payments you don't need to take action. Similar to the stimulus payments, the Advance Child Tax Credit are not additional funds for taxpayers but rather ADVANCE PAYMENTS, meaning it may reduce your 2021 tax return refund, or increase your 2021 taxes due in 2022. "YOU COULD OWE MONEY IF YOU TAKE THIS ADVANCE"

CTC requirements to qualify:

  • Married filing jointly: up to $150,000
  • Head of household: up to $112,000
  • Single or Married filing separately: up to $75,000

Credits will be calculated as shown above
Child AgeChild CreditAdvance Credit6 payments of
0-5 years old$3,600$1,800$300
6-17 years old$3,000$1,500$250

The following may be updated:
  • Mailing address
  • Direct deposit information
  • Changes in dependents, such removing or adding a dependent
  • Marital status
  • Re-enroll
  • Change in income

Click here to access the Child Tax Credit(CTC) Update Portal

Unfortunately, any change made on this portal will not be effective until August, meaning your first payment will be procesed with the information the IRS currently has on file.

Why Opt Out?

You may not want to claim the advance CTC and would rather receive a large refund from your upcoming 2021 Tax Season.