Advance Child Tax Credit (CTC) — Our recent article on the CTC helps explain the changes that need to be considered when filing your 2021 taxes. In order to appropriately record this credit and to avoid unexpected delays in return processing and refunds, you need to provide Form 6419 or a summary of the advanced […]
Last July, approximately 36 million of qualified families began receiving the first of six monthly payments for the Advance Child Tax Credit (CTC). As part of the President’s American Rescue Plan Act, the CTC had been raised to $3,600 per child under age 6 and $3,000 per child between 6 and 17 years of age. […]