Important changes to the Child Tax Credit will help many families get advance payments of the credit starting this summer. Advance Child Tax Credit payments are early payments from the IRS that equal half the estimated amount of the Child Tax Credit you’ll claim on your 2021 tax return during the 2022 tax filing season.
If the IRS has processed your 2020 or 2019 tax return, they’ll use the information you provided to determine if you qualify, and then automatically enroll you for the advance payments. You don’t need to do anything else to receive the payments if you qualify.
The IRS will pay half the total credit amount in advance monthly payments beginning July 15, 2021.
After that, payments will be disbursed on a monthly basis through December 2021.
Check out the IRS Advance Child Tax Credit FAQs for more information.