The IRS has released information about the upcoming Advanced Child Tax Credit Payments (CTC) that will begin in July explaining that more details are still to come. According to the IRS website, "For tax year 2021, families claiming the CTC will receive up to $3,000 per qualifying child between the ages of 6 and 17 at the end of 2021. They will receive $3,600 per qualifying child under age 6 at the end of 2021." An important detail yet to be announced is how eligible taxpayers can opt out of receiving advance payments if they choose. To read the full IRS release click here.
J. Alan Hayes