IRS to Send Out Notices on Advance Child Tax Credit Payments

May 14, 2021, 6:53 PM

Taxpayers eligible to receive advance Child Tax Credit payments will receive notices containing important information, an agency official said.

They will receive a notice informing them of their potential eligibility for the benefit, as well as a notice about the payment so they will know when that is coming, said Ken Corbin, commissioner of the IRS’s Wage and Investment Division. At the end of 2021, they will also receive a statement summarizing the total amount they received throughout the year, he said Friday at a virtual conference hosted by the American Bar Association’s tax section.

  • “It is important ...

To read the full article log in. To learn more about a subscription click here.