Recently, there have been several updates relating to the Child Tax Credit Update Portal for the Advanced Child Tax Credit.
• If you want to continue to elect to have a paper check, you can update the address on the portal. (Must be done by August 30th – If changes are made after August 30th changes will be reflected on the next scheduled payment.)
– It is also important to make sure the address is correct because at the end of the year the IRS will be sending out a year end summary statement (Letter 6419) and this will be needed to complete the tax return.
• You can also update direct deposit information.
– It is important to note that only one bank account is permitted for each recipient (can only be direct deposited into one account)
– The portal also allows the you to change from receiving a paper check to direct deposit.
As an additional reminder you can still opt out of payments for September and the rest of 2021, but you must unenroll by August 30, 2021. For married couples, each spouse must unenroll separately.
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