RefundtalkThe Internal Revenue Service added a new feature to its online portal for the Child Tax Credit allowing parents to update the mailing address where they should receive the monthly payments. The new feature will enable any family that opts to receive their payment through a paper check to avoid mailing delays or have a check…
Category Archives: Child Tax Credit
How To Return An Improper Advance Child Tax Credit Payment
The IRS has provided instructions for returning advance child tax credit payments (CTCs) that the recipient did not qualify for or, for other reasons, wishes to return. Because of one or more of the following reasons some taxpayers who do not qualify for the 2021 advance of the CTC will get 2021 advance payments: IRS…
Child Tax Credit Payments Could Impact Your 2021 Tax Return
We know changes to your taxes can be confusing and difficult to navigate at the best of times, and the coronavirus pandemic has only added more uncertainty. But there’s no need to stress — we’ve broken it all down for you. Will I still be getting a Child Tax Credit payment when I file my…
How nonfilers can claim advance child tax credit payments
IRS clarified how individuals who are not otherwise required to file 2020 federal income tax returns can claim advance child tax credit (CTC) payments as well as stimulus payments (i.e., third-round economic impact payments, 2020 recovery rebate credit payments, and additional 2020 recovery rebate credit payments). To process these payments, the IRS needs certain information…
Parents Can Get $300 Every Month For Each Kid In New Stimulus Proposal
This week, Congress will start working on a stimulus package proposed by President Biden. The relief bill will likely include a stimulus check worth $1,400 that will go out to millions of Americans, but that’s not the only financial benefit the legislation might boast. According to the Washington Post, House Democrats have drafted a proposal that will see the…
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