American Rescue Plan Enhanced Child Tax Credit 2021

Beginning on July 15, 2021 the IRS will allow taxpayers to receive an Advance Child Tax Credit as six monthly payments that end December 2021.  

Are you wondering how/when you will receive payment?  If you provided your banking information on your tax return, you will receive a direct deposit on or shortly after July 15, August 13, September 15, October 15, November 15, December 15. Please note that the bank will not have information regarding a deposit prior to those dates.  If you did not provide banking information to the IRS, a paper check will be mailed to you on the dates listed for direct deposit. 

Need to see if the deposit was made?  Use your FSB online or mobile banking to check for the deposit!  You can set up an alert by logging in and then go to Menu, then to Manage Alerts and follow the prompts from there.  Please note, checks are posted at the start of a business day, so if you don't see it in your account early in the day, you probably don't need to check again until the next business day. 

The following link will take you to the IRS website where there is a wealth of information relating to the tax credit:    https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

The information includes FAQs, information regarding the amount, and information regarding unenrolling from the automatic payment. 

Don’t like clicking on links?  That’s OK – navigate to the IRS website and on their homepage is a link Get Answers on the Advance Child Tax Credit. 

And remember:  DON'T FALL FOR SCAMS!  Government agencies won't ask you for personal or bank information on an unsolicited call, e-mail, or social media contact.  Don't click on links asking you to verify information, and if you get a call that you can get your money early by paying a fee, well that's also a scam.  

BE SAFE.  BE SECURE.

This information is provided as a public service to give you information; it is not tax advice.