|Are you eligible to receive the Child Tax Credit? If so, you may begin receiving enhanced credits and direct payments of the credit in July. If you are considering the option to unenroll in Advance Payments, here are some things to know: |
– If you are a married couple who files jointly, each spouse must unenroll separately. If only one spouse unenrolls, the other spouse will still receive their half of the advance payment.
– The deadline to unenroll is three days before the first Thursday of the next month (i.e. to opt out of July, you must do so by Monday, June 28, 2021). If you miss this deadline, you can try again in August.
– If you unenroll, there is currently no way to opt back in to start receiving the payments. Although no official details or guidance has been provided at this time, it has been suggested that the Internal Revenue Service (IRS) may provide the option to reenroll in September.
– For additional information to unenroll from Advance Payments, please click here.
Please click here to access the online portal to check eligibility, view your advance payments, and unenroll.
Source: Internal Revenue Service