The IRS and partner community groups, churches, and non-profit groups continue to be creative in the way that they connect with families who may be eligible to receive advance payments as a result of the American Rescue Plan’s (ARP) Advance Child Tax Credit (AdvCTC) payment program that was enacted in March 2021. The IRS wants to do all that they can to reach people that don’t normally file federal tax returns or who may have missed Economic Impact Payments. They are hosting a third event this coming weekend, July 23-24, 2021, in 12 locations across the nation to assist individuals file 2020 income tax returns and register for the monthly Advance Child Tax Credit using the new Non-Filers Sign-up Tool. Locations include Atlanta, Detroit, Houston, Las Vegas, Los Angeles, Miami, Milwaukee, Philadelphia, Phoenix, St. Louis, and Washington.
People are encouraged to bring the following information with them:
- Social Security Numbers for each of their children
- Social Security Numbers or Tax Identification Numbers for themselves and spouses
- A reliable mailing address
- An e-mail address
- Their bank account information if they desire to receive direct deposit payments
Child Tax Credit (CTC) payments up to $300.00 per month for each child under the age of 6 years old, and up to $250.00 per month for each child between the ages of 6 and 17 years old are considered, “refundable”, meaning that even if taxpayers don’t owe income tax, the IRS will issue them a refund if they are eligible. Those earning income less than $72,000.00 annually who have already filed 2020 federal income tax forms are to start receiving monthly payments without additional action.
SPS/GZ will continue to post Child Tax Credit updates as the IRS makes them available. SPS/GZ is a full-service tax reporting firm that provides personalized service and exceptional support, utilizing state-of-the-art technology to create and e-file Forms 1099, Affordable Care Act tax forms, and Forms 3921 and 3922. Reach out today at [email protected] or call at (888)375-3049.