2021 – 06/22 In a letter currently being sent to taxpayers, the IRS explains that no action is required to begin receiving advance child tax credit (CTC) payments for 2021 (assuming the taxpayer is eligible). The American Rescue Plan Act directs the IRS to make advance monthly payments of half the estimated annual CTC during 2021. The IRS will make the advance payments from July through the end of 2021. If, however, taxpayers wish to opt out of receiving advance CTC payments, instructions on how to unenroll from these payments will be available by the end of June. Contact us for additional information on the CTC.

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