Ways and Means Democrats Release One-Pager and FAQs on New IRS CTC Portals
WASHINGTON, DC – Today, Ways and Means Committee Democrats released a one-pager and FAQs on the two new online portals that the Internal Revenue Service (IRS) will launch this month related to the advance monthly payments of the 2021 Child Tax Credit (CTC). The American Rescue Plan Act, which Congress passed and President Biden signed into law earlier this year, increased the amount of the CTC for 2021 to $3,600 per qualifying child under the age of 6 and $3,000 per qualifying child under the age of 18. That legislation also authorized the IRS to send eligible families periodic advance payments of their 2021 CTC in an effort to more quickly get money into the pockets of hardworking parents struggling due to the COVID crisis. These two new portals will allow eligible families to provide the IRS with the information necessary to receive their monthly payments.
“Nearly 90 percent of our nation’s children will feel the positive effects of the expanded Child Tax Credit, a key piece of Congress’s COVID relief law that Ways and Means Committee Democrats authored. These advance payments of that credit will ensure families receive this crucial support when they need it most, all while making dramatic reductions in child poverty,” said Ways and Means Committee Chairman Richard E. Neal (D-MA). “I hope these Committee documents serve as helpful resources as families prepare to understand and access the new portals.”
The one-pager on the portals is available HERE.
The FAQs on the portals can be found HERE.