Changes made to the Child Tax Credit will allow advance payments of the credit to families starting this summer. The IRS will pay half the total credit amount in advance monthly payments beginning July 15. The other half will be claimed when families file their 2021 income tax return next year. These changes apply only to tax year 2021.
Frequently Asked Questions
Where can I check if I will receive a payment?
You can use the Eligibility Assistant on the IRS website to see if you might be eligible for advance payments of the Child Tax Credit.
If I’m eligible, when will I start receiving payments?
Advance Child Tax Credit Payments will be disbursed in monthly installments starting on July 15, 2021 and ending December 2021.
Advance Child Tax Credit Schedule
Rates Effective as of: 10-04-2023
|Payment Month||Payment Date|
How will I receive my advance Child Tax Credit Payments?
If the IRS has received your banking information, your payment will be sent to you as a direct deposit. The IRS will use bank account information from the following sources, in the following order:
- Your 2020 tax return.
- Your 2019 tax return, including information you entered into the Non-Filer tool on IRS.gov in 2020.
- A federal agency that provides you benefits, such as: Social Security Administration, Department of Veterans Affairs, or the Railroad Retirement Board.
If they do not have bank account information to issue you a direct deposit, the IRS will send your advance child tax credit payments by mail.
I recently filed my 2020 tax return. Do I need to do anything else to receive advance Child Tax Credit payments?
No. You do not need to take additional action beyond filing your 2020 tax return to receive the monthly payments.
If you already received one or more payments based on your 2019 tax return, your payment amount may change after the IRS processes your 2020 tax return. Otherwise, your monthly payments should begin in July or the month after your 2020 tax return is processed, whichever is later.
My 2019 tax return was used to determine my advance Child Tax Credit payments. I recently filed my 2020 tax return with a different amount of income. Will the IRS update my advance Child Tax Credit payment amounts?
Yes. Your advance Child Tax Credit payments will be recalculated after the IRS processes your 2020 tax return. The IRS will adjust your remaining payments in 2021 to increase or decrease the total amount of your advance Child Tax Credit payments that should be disbursed to you during 2021.
Do I need to file an amended return to receive advance Child Tax Credit payments?
No. You’re not required to file an amended return to receive advance Child Tax Credit payments. If the IRS has not processed your 2020 tax return as of the payment determination date for a monthly advance Child Tax Credit payment, they will determine the amount of that advance Child Tax Credit payment based on information shown on your 2019 tax return.
You can update your information through the Child Tax Credit Update Portal (CTC UP). For more information regarding CTC UP and how to update your information, see Topic F: Updating Your Child Tax Credit Information During 2021.