The IRS is rolling out two new web tools as the agency prepares to make advance payments related to the expansion of the child tax credit.
One of the new web tools called the "Child Tax Credit Eligibility Assistant" allows taxpayers to check if they qualify for the credit and monthly payments. The other tool called the "Child Tax Credit Update Portal" allows families to opt-out of the monthly payments and instead receive a lump sum when filing for 2021 tax returns next year.
The IRS will begin the monthly payments July 15th.
Source:AS.com