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Child Tax Credit - Monthly Payments start July 2021!

COVID Tax Tip 2021-101: The Child Tax Credit Update Portal allows families to update direct deposit information or unenroll The IRS recently upgraded the Child Tax Credit Update Portal to enable families to update their bank account information so they can receive their monthly Child Tax Credit payment. The tool also allows families to unenroll from the advance payments if they don’t want to receive them. The Update Po...

Tax Tip 2021-52: Do’s and don’ts for taxpayers who get a letter or notice from the IRS More Information:Understanding Your IRS Notice or LetterTax Topic 651, Notices – What to DoTax Topic 653, IRS Notices and Bills, Penalties, and Interest ChargesTax Topic 654, Understanding Your CP75 or CP75A Notice Request for Supporting Documentation

COVID Tax Tip 2021-41: IRS YouTube channels have helpful videos on a variety of tax topics The channels also offer playlists on specific tax topics, including ones for tax professionals and small business taxpayers. Share this tip on social media -- : IRS YouTube channels have helpful videos on a variety of tax topics. https://go.usa.gov/xsS8J

Tax provisions in the American Rescue Plan Act The stimulus bill passed by the House contains many tax provisions, including a new round of economic stimulus payments, tax credits for COBRA continuation coverage, and expansions of the child tax credit, the earned income credit, and the child and dependent care credit.