The IRS updated its extensive FAQs for the 2021 child tax credit and advance child tax credit to help eligible families properly claim the credit when preparing and filing their returns.
Recipients of the advance child tax credit payments will need to compare the number of payments received during 2021 with the amount they can claim on their tax returns.
The monthly advance payments began in July 2021 for more qualifying taxpayers and ended in December. They should, in most cases, total half the amount of the credit claimable for the full year. Read more.