2021 Child Tax Credit Updates
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Manage episode 296840179 series 2825262
This episode focuses on the upcoming changes to the 2021 Child Tax Credit and what to expect since most taxpayers will receive 50% of that in advance. The information for this advance is based on your 2020 tax return if filed; otherwise, the 2019 return.
So, if there is information that the IRS needs to be notified that will be different in Tax Year 2021, such a newborn, or claiming a dependent in 2021 that you did not in 2020, they have developed a portal for you to input these changes, called the Child Tax Credit Update Portal, or CTC UP.
The web address is complete these updates is
www.irs.gov/credits-deductions/child-tax-credit-update-portal.
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