Intuit Tax Pro Center Child Tax Credit Q&A

Advance Child Tax Credit (ACTC) payments were one of the cornerstones of President Biden’s American Rescue Plan to help bolster American families’ budgets during COVID-19. The payments are poised to make an encore in 2022 as part of the currently stalled Build Back Better Plan legislation. The IRS recently sent the last payment to families receiving these credits and, in tandem, also sent letters explaining to some taxpayers that they may need to repay some amounts. Continue reading here.