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Drake Software blog for tax pros, covering tax, IRS news, and more

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Registration Might Be Required for Advance Child Tax Credit Payments

Bob Williams - June 28, 2021
Registration Might Be Required for Advance Child Tax Credit Payments

Taxpayers who aren’t required to file a federal income tax return don’t need to file to get advance payments of the Child Tax Credit. They will, however, have to register with the IRS if they haven’t filed a return lately.…

Read more about Registration Might Be Required for Advance Child Tax Credit Payments

New Online Tools Help Families Manage Monthly CTC Payments

Bob Williams - June 23, 2021
New Online Tools Help Families Manage Monthly CTC Payments

The Internal Revenue Service has unveiled a pair of new tools to help families manage and monitor advance monthly payments of the Child Tax Credit, made possible by the American Rescue Plan.…

Read more about New Online Tools Help Families Manage Monthly CTC Payments

New Online Tool Helps Low-Income Families Register for Advance CTC Payments

Bob Williams - June 16, 2021
New Online Tool Helps Low-Income Families Register for Advance CTC Payments

The Internal Revenue Service has rolled out a new online tool that’s built to help families register for monthly Advance Child Tax Credit payments.…

Read more about New Online Tool Helps Low-Income Families Register for Advance CTC Payments

Millions of Taxpayers to Receive IRS Letter about the Advance Child Tax Credit

Ryan Norton - June 09, 2021
Millions of Taxpayers to Receive IRS Letter about the Advance Child Tax Credit

Congress has passed a number of coronavirus relief packages throughout the pandemic. While the three rounds of Economic Impact Payments are the most famous provision of those legislative efforts, they were technically an advance on the new Recovery Rebate Credit.…

Read more about Millions of Taxpayers to Receive IRS Letter about the Advance Child Tax Credit

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