Letters to more than 36 million families who may qualify for monthly Child Tax Credits
The IRS started sending letters to more than 36 million American families who, based on tax returns filed with the agency, may be eligible to receive monthly Child Tax Credit payments starting in July. The expanded and newly-advanceable Child Tax Credit was authorized by the American Rescue Plan Act. Most families do not need to take any action to get their payment. The IRS urges individuals and families who haven't yet filed their 2020 return – or 2019 return – to do so as soon as possible so they can receive any advance payment they're eligible for. This includes people who don't normally file a tax return, such as families experiencing homelessness, the rural poor, and other underserved groups. The IRS also urges community groups, non-profits, associations, education organizations, and others to share this critical information about the Child Tax Credit with those who have children. Need more information visit our website at http://bestdiscountaccounting.com/