Those who want to opt out of the November child tax credit advance payment have until November 1, 2021 at 11:59 p.m. That’s when the opt out deadline for the child tax credit hits.
While most families have grown accustomed to the process – the IRS is reminding parents and families that they have about a week to visit the online portal to delay benefits.
This is crucial for families who have experienced an increase in income since the child tax credit payments of $250 and $300 per child began rolling out in July. Those with children under 6 are eligible for $300 payments per child. While those with children between 6 and 17 are eligible for $250 payments.
The total child tax credit is $3,600. However half of that total is being distributed in monthly payments by the IRS. The remainder will be claimable on 2021 tax returns.
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