In a nutshell, this means that qualified taxpayers will receive up to $1,800 of 2021 tax return credits for their child in monthly payments of $250 or $300. You will want to keep track of all payments received this year from July 19 until December 15 to give to your tax preparer. We will have to reconcile what you have received with what you have left to receive as a refundable credit on your 2021 tax return.
IRS preparing to rollout Advance on Child Tax Credit
