If you benefited from advance Child Tax Credit payments or the third round of Economic Impact Payments, watch your mail for a letter from the IRS.
Child Tax Credit
Many taxpayers will automatically receive monthly advance child tax credit payments beginning July 15th; however, this may not be beneficial for everyone. The deadline to unenroll is June 28th.
The American Rescue Plan Act of 2021 – or ARPA – includes expansion of the Child Tax Credit as well as the Child and Dependent Care Tax Credit.