The new Advance Child Tax Credit 2021 monthly payments are scheduled to start going out next month, on July 15th. Receiving these advance payments will reduce taxpayers’ credits traditionally on next years tax return filings. We have been getting quite a few questions on how to assist taxpayers wanting to opt-out of receiving these payments, and the IRS just released that the tool to facilitate the management of these payments is now available.
There are 3 tools now available to assist your clients manage their Advance Child Tax Credit payments: