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IRS adds income update tool for monthly child tax credit payments

If your incomes changed substantially from 2020 to 2021, you will want to put info into the portal.

GREENSBORO, N.C. — The next Advanced Child Tax Credit payment goes out on Nov. 15, 2021. The IRS gave parents a deadline of midnight Nov. 1 to make income changes in a new online tool. 

The IRS posted an alert:

Enter income changes online on Monday to impact your November 15 Advance Child Tax Credit Payment.

The new income feature, which just came out Monday, can help families make sure they are getting the right amount of payments during 2021.
You only need to use this income portal if your 2021 income has substantially risen or fallen compared to 2020 income levels.

WHAT IF YOU MISSED THE DEADLINE? 

If you didn't change your info in time, it will still be adjusted for the December 15 payment.

The standard payment is between $250 or $300 dollars per child depending on the child's age. $300 per month, per child under the age of 6, and $250 per month, per child ages 6 to 17.

Keep in mind, the payments are advances on the tax credit, which is a part of the return that you normally get on your yearly tax refund.

WHERE IS MY PAYMENT?

2 Wants To Know is hearing from parents out there that either you're missing payments or maybe the portal isn't giving you any new information about your payment status. You can track your Child Tax Credit payment online.
I'm not going to tell you this is an easy and quick fix, but calling the IRS isn't an option.

You can check your status with the child tax credit portal daily. It won't change hourly, so don't waste your time. Check it once a day.

You can track your IRS Advanced Child Tax Credit payment, but you have to wait a specific amount of time before you ask the IRS to trace your payment.

A9. You can request a payment trace to track your payment if you have not received it within the timeframes below. We will not be able to trace your payment unless it has been:

  • 5 days since the deposit date and the bank says it hasn't received the payment 
  • 4 weeks since the payment was mailed by check to a standard address 
  • 6 weeks since the payment was mailed, and you have a forwarding address on file with the local post office 
  • 9 weeks since the payment was mailed, and you have a foreign address

To start a payment trace, mail or fax a completed Form 3911, Taxpayer Statement Regarding Refund.

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