COLUMBUS, Ohio (WCMH) — The federal government’s advanced Child Tax Credit in 2021 has a lot of people concerned about owing money this tax season.
“I’ll be you about half of Americans, half who are parents know how much they’ve received, and the other half are like, ‘It was something, I don’t quite remember,'” said President at BBI Accounting Jerry Rhodes.
To help guide taxpayers through their concerns, the IRS has launched a child tax credit update portal to look up how much people may have received in early payments and if there are any additional credits you can claim when filing.
“The fact this portal exists is great for us to use as tax preparers. We’re going to have to go in there and look at every single client we have that has children,” said Rhodes.
To access the information online, you’ll need to sign in or create an account. If you do not have an online account, you will need about 15 minutes to sign up.
- Create password or forgo creating a password by signing in with Google, LinkedIn or Facebook.
- A photo of the front and back of your driver’s license or state-issued ID or a passport.
- Have access to a web camera or a selfie in the form of a video clip that is about 15 seconds long
- Your social security number
- Email address that only you control
- Phone number to receive text messages for dual verification
Inside the portal, a notice is posted:
Advance Child Tax Credit payment information required to file your 2021 tax return will be available in your online account beginning January 31, 2022. Until then, you can use Letter 6419 sent by mail. Do not use the payment details in this portal. Learn more about reconciling your advance Child Tax Credit payments.IRS.gov
Letter 6419 was received by some NBC4 viewers last week. Should you have not received that letter, you can read the material by clicking here.
If you would rather not create an online account with the IRS, here is how you can figure out how much you have received in advance.
2021 Child Tax Credit
$3,600 per child 5 years and younger
$3,000 per child 6-17 years old
Basically for each child, you received half of the money above. For the six months from July to December, you would have been advanced $300 a month per child 5 years old and younger for a total of $1,800.
For children aged 6 to 17 during the same time period, you would have received $250 a month for a total of $1,500 per child.
Ultimately this means you still have the other half of the child tax credit coming to you this tax season.
You want to be sure to visit the IRS’s frequently asked questions to make sure you get every credit you deserve.