IRS Advance Child Tax Credit Payment Information


You have questions or concerns about the Advance Child Tax Credit Payment please read below.

PLEASE READ THE ENTIRE BLOG POST.


Your advance payment is based on the dependents you had listed on your 2020 Tax Return (if you didn't file your 2020 return or your 2020 Tax Return has not yet been processed, it will be based on your 2019 Tax Return). Your monthly payment should be $250 for each child age 6 and older up to age 16 (based on their age by 12/31/2021) and $300 per child age 5 and under (based on their age by 12/31/2021).

You should receive a payment if the tax return they used shows that your adjusted gross income was $75,000 ($150,000 if Married) or less. If you anticipate making more than these amounts for 2021, you should opt out of these payments by logging into your IRS Portal or you may have to pay them back. See the links at the bottom of the emails.

IF YOU DID NOT GET A PAYMENT

Please give your bank a couple of days to post the payment. It's possible they have not processed it to your account. You can always contact your bank to find out more. If you do not have direct deposit set up, you will either receive a check or debit card.

You can also login to your IRS Portal (see link below) to check and see if you are enrolled to receive payments. You will also be able to update your banking information (in the coming weeks) as well to ensure the IRS sends it to the correct account.

IF YOU DID NOT GET THE PAYMENT YOU EXPECTED

Unfortunately, there is nothing that can be done at this exact moment. HOWEVER, the IRS is working on adding new features to the portal. This includes adding dependents that may not have been calculated in the recent distribution of funds. See the IRS schedule of updates.

TO ACCESS YOUR IRS PORTAL

Click on the Link below, and then click on MANAGE PAYMENTS. Make sure you FIRST login with the person that is listed as the PRIMARY taxpayer (the taxpayer listed first on the tax return for married taxpayers) first. If you have an IRS account, you may use that or create a new account with the IRS. The IRS will validate your identity before proceeding forward. If you can not validate your identity, there is nothing that we can do at this time. You may have to call the IRS at 1-800-829-1040.

CLICK HERE TO ACCESS THE IRS PORTAL OR COPY AND PASTE THE ADDRESS BELOW

https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

Thanks so much, and hopefully we will have more information soon. We appreciate your patience and understanding in this matter.

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