In July, 2021, the IRS started sending monthly payments to some parents of children under age 17, as an advance on the Child Tax Credit expected to be claimed on the parents’ 2021 tax return during the 2022 tax filing season. Instead of getting all the credit in 2022, half of the anticipated credit is being paid in advance. The purpose is to stimulate the economy and ease the ongoing burden of Covid-related issues for families.
For official information on this topic, see the IRS’ Advance Child Tax Credit Payments in 2021 web page,
Kenneth Athon Tax Strategies 