TSCPA News

IRS Revises 2021 Child Tax Credit and Advance Child Tax Credit Payments FAQs

March 8, 2022

The IRS recently updated its frequently asked questions (FAQs) on the 2021 Child Tax Credit (CTC) and advance CTC payments.

The revisions and additions are as follows:

  • 2021 Child Tax Credit and Advance Child Tax Credit Payments — Topic B: Eligibility for Advance Child Tax Credit Payments and the 2021 Child Tax Credit: Q3
  • 2021 Child Tax Credit and Advance Child Tax Credit Payments — Topic C: Calculation of the 2021 Child Tax Credit: Q1
  • 2021 Child Tax Credit and Advance Child Tax Credit Payments — Topic D: Calculation of Advance Child Tax Credit Payments: Q1

The changes reflect that Publication 972, Child Tax Credit, has become obsolete. Taxpayers should refer to Schedule 8812 (Form 1040). Schedule 8812 (Form 1040) is now used to calculate the CTC, report advance CTC payments received in 2021 and determine any additional tax owed if excess advance CTC payments were received in 2021.