As the payment date nears for the Advance Child Tax Credit (ACTC) distributions, the IRS has published frequently asked questions (FAQs) on IRS.gov. The FAQs are designed to help parents understand who qualifies for the credit and how to obtain their payments.
1. How Much are Advance Child Tax Credit Payments?
The advanced payments will be a total of six payments equal to 50% of the estimated Child Tax Credit for the taxpayer's 2021 tax return. This payment would normally be received when you file your return in 2022. However, up to 50% of your credit amount may be distributed through...More