Advance Child Tax Credit Payments to begin

If you have children under age 17, depending upon your income and other factors, the IRS may start sending you monthly checks beginning July 15 as an advance or pre-payment of your Child Tax Credit.

The IRS may estimate what it thinks you will claim as a Child Tax Credit next tax filing season (2022) for your 2021 income tax return, and then divide that by two, and send six monthly checks beginning in July.

On the income tax return filed in 2022, the 2021 Child Tax Credit will be reduced by the same prepaid amount

Taxpayers can opt out of this monthly pre-payment plan, in order to receive a larger Child Tax Credit when filing the 2021 income tax return in 2022.

For more information: