Dear friend,
The IRS has launched three online tools to help you and your family manage and monitor your monthly Child tax Credit (CTC) payments. First, families who typically don’t have to file a tax return can use the Non-filer Sign-up Tool to submit their information to register for their payments. Second, to assist families determine whether they qualify for the advance credit, families can use the Child Tax Credit Eligibility Assistant to answer a series of questions to quickly determine whether they are eligible. Third, families can monitor and manage their payments with the Child Tax Credit Update Portal.
With the Child Tax Credit Update Portal, you can:
- Check to see if you are signed up to receive monthly CTC payments
- Update or enter your bank account information
- Unenroll from receiving monthly payments
If you choose to stop receiving monthly payments, you will receive the rest of the funds as a lump sum when you file your taxes next year. If you provide any updates through the portal, they will be reflected in the August CTC payment and the months beyond. And, you will receive a paper check if you are not signed up for direct deposit.
I know monthly payments could come in handy for day-to-day expenses, and I encourage you to use this portal if that option works best for you. I will continue working with my colleagues to make these payments permanent to provide extra support for families juggling the cost of health care, childcare, housing, bills, and other essentials.
Additional information is available on the IRS Advance Child Tax Credit 2021 page here.
Your friend,
Gwen