Written by Deb Bechetti
Beginning this month, the IRS will start issuing the Advance Child Tax Credit payments.Â
Advance Child Tax Credit payments are early payments from the IRS of 50 percent of the estimated amount of the Child Tax Credit that you may properly claim on your 2021 tax return during the 2022 tax filing season.
The IRS refers to these checks as “advance” payments ahead of 2021 tax season. This means that recipients are getting the payments sooner rather than waiting to receive that money when tax returns are filed.
These payments are not considered income to the household.
