Child tax credit update portal: update your income details, review your payments and more

You can see if your child tax credit payments have been processed in the update portal.

Sarah Tew / CNET

Now that five child tax credit payments have been sent to eligible families, there is only one left this year. This means that if you haven’t already done so, you must notify the IRS of any change in your income, especially if it affects the amount you are entitled to. You have until November 29 to make the final changes to the portal before the December payment is sent.

Here’s what the Update Portal can help you now: You can see your processed payments and change your mailing address, income, and banking information. You can also use IRS portals to monitor your future deposits. However, you still can’t change some of the things the IRS said you could change with its portals.

The online tool does not allow you to update your marital status or change your dependents. The IRS still hasn’t said when – or if – parents can make these changes this year. Still, being able to tell the IRS of these details in 2021 is supposed to help ensure families get the right amount of credit and avoid potentially owing the IRS money next year.

We’ll walk you through what you need to know about the portals below, including how opting out will affect your payment and taxes next year. Here’s what to do if you are missing a check from one of the previous months. This story was updated recently.

Can I make changes to my income details in the portal now?

Yes. The IRS has said that you can now notify the tax administration of changes in income that affect the amount of your advance payments. Changes you make before 9 p.m. PT (12 p.m. ET) on November 29 will apply to your payments on December 15.

The IRS has said that only families who are already eligible and receive advance payments based on their 2020 tax return can use the Child Tax Credit Update Portal to notify the IRS of changes in income. IRS officials can’t process income changes over the phone, the IRS said.

When can I update my dependent details using the portal?

The IRS has not released new details on when it will allow you to make changes regarding your dependents to avoid repaying money you may not be eligible for. The IRS originally said that this year you would be able to report changes in all life circumstances since the last tax return, such as a in addition to your family or a change of child custody status – but it still hasn’t made this feature available.

Here’s why this feature is needed:

If you had or will have a new baby this yearIt is important to notify the IRS so that you can receive a payment of up to $ 3,600 for that child. The same applies if you have adopted a child or gained a new dependent child since the last income tax return.

In addition, if you have obtained full custody of your child, you will be the parent who will receive the money for your child. Note that parents who have shared custody will not each receive a payment. This is important for domestic violence survivors, according to comments made in an IRS screening hearing by Nina Olson, executive director of the Center for Taxpayer Rights. The Child Tax Credit Update Portal “should allow them to enter their change in marital status and also the location of the children,” Olson said.

Remember that collecting the money when it is not eligible may mean paying off the IRS during tax time in 2022. If you are not sure whether you qualify, you can opt out of the advance payments. to be on the safe side. You will collect the child tax credit money during tax season next year.

Which Child Tax Credit Audits Can I Opt Out of and How?

Most families eligible for the extended credit did not need to take steps to receive advance payments in 2021. If you have ever filed a 2019 or 2020 federal income tax return (or used the non-filing tool in 2020 to sign up for stimulus payments), you should have started getting the credit automatically in July. The credit is non-refundable, so you don’t need income to get it, and families can pocket the extra money if the credit amount is more than their total tax bill.

The Child Tax Credit Update Portal allows you refuse to receive monthly child tax credit payments for that year. This means that instead of receiving monthly payments of, say, $ 300 for your 4-year-old, you can wait to file a 2021 tax return in 2022 to receive the remainder of the $ 3,600. You can unsubscribe at any time, but you must unsubscribe at least three days before the first Thursday of the month.

At this point, the IRS says unsubscribing or unsubscribing is a one-time action – and it’s not clear if you’ll be able to re-enroll (IRS initially said in late September, but that option is still not available ). The deadline for opting out of the last payment is November 29, before 9 p.m. PT (midnight ET).

You may choose to opt out of the monthly advance payment program because you expect circumstances to change or if the partial monthly payments interfere with tax planning. Families who typically owe the IRS money when they file taxes may want to use the full credit next year. Or you might want a larger payment if your household is saving for a big expense.

To unsubscribe, visit the Child Tax Credit Update Portal and press Manage advance payments. You will then have to log in with your IRS username or ID.me account. (You can create one on the page if you don’t have one.)

After signing in, if you are eligible, you will see an option to opt out of payments. The IRS says that if you jointly filed your most recent tax return, opting out will only affect your prepayments, not your spouse’s. This means that both parents must opt ​​out separately.

What can the IRS Child Tax Credit Tools be used for?

Online tools are useful for a variety of reasons. Here’s how they help parents with eligible dependents:

  • The Child Tax Credit Update Portal allows you to verify that your family is eligible for the credit and to decline to receive payments in 2021. You can use it now to view your payment history (including if money comes by paper check or direct deposit) and provide the IRS with your current mailing address, income, and bank details.
  • A non-filing portal allows you to provide the IRS with basic information about yourself and your dependents if you are not normally required to file a tax return. The tool is intended to help low-income households register for payments. The last day to use this portal is November 15 (more details below).
  • The Child Tax Credit Eligibility Wizard can help you determine if you qualify for Child Tax Credit advance payments. The interactive tool is now available in Spanish and other languages.

What other toolkits and resources are available? The IRS regularly updates its Child Tax Credit FAQ page and has a PDF with details about the portals. The White House has launched a website for the Child Tax Credit that provides information for families, eligibility details, and more downloadable information.

How can I verify that my family is eligible for checks?

The new Child Tax Credit Eligibility Wizard allows families to answer a series of questions to quickly determine if they qualify for the early credit. This can be useful for families who have not received a letter from the IRS confirming their eligibility. The tool is now available in several languages, including Spanish.

How do I view my monthly payment history on the update portal?

Using the Child Tax Credit Update Portal, you can view your payment history and add your direct deposit information if the IRS does not have it on a recent tax return. If the IRS has invalid bank details, it will mail the check. Families who receive their payments by post should allow extra time for delivery.

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Parents can always unsubscribe from monthly payments to get the credit balance next year.

Sarah Tew / CNET

Today is the last day to use the IRS Non-Filer Registration Tool

It’s not too late for low-income families to register for the Child Tax Credit Advance Payments, but that deadline ends today. The Child Tax Credit Non-Filer Registration Tool is a way for those who are not required to file an income tax return to provide the tax agency with basic information about their dependents . This tool can be used by low-income families who earn too little to file a 2020 tax return but need to notify the IRS of eligible children born before 2021. The tool is available until November 15.

With the no-report tool, you will be able to electronically file a simple tax form with the IRS with enough information for the agency to determine your family’s eligibility for child tax credit advance payments. . You should not use this tool if you need to file a tax return but have not yet done so. Also, do not use this tool if you actually filed a 2020 tax return or claimed all of your dependents on a 2019 return.

To use the tool, families must have had a primary residence in the United States for more than half of the year. To enroll, parents must have their personal information on hand, including an email address, Social Security numbers for dependents, and a bank account routing number.


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