The IRS began issuing advance payments of the Child Tax Credit (CTC) in mid-July. Similar to certain other credits with an advance payment option, taxpayers who receive these advance payments will have to reconcile the total amount received on their 2021 individual income tax return.
In January 2022, the IRS is planning to send Letter 6419 to all advance CTC recipients, providing the total amount of advance CTC payments that were disbursed to those recipients during 2021. Please keep this letter regarding your advance CTC payments with your tax records. This information will be used to reconcile the credit amount on your 2021 individual tax return. You may need to refer to this letter when you file your 2021 tax return during the 2022 tax filing season.
Track advance payments using a new form created by the Taxpayer Advocate Service
If you would like to track these individual payments yourself, the Taxpayer Advocate Service has created an unofficial Advance Child Tax Credit Payment Tracker form on which you can do that. The form is a PDF document that is fillable and will auto-calculate the total advance payment amount for you. Be sure you enter the correct payment amount each month or the total will not be accurate.
You can download this form from our 2021 Child Tax Credit & Advance Payment Option Get Help page. The form is located under the “Resources” section, or simply click on this link to download.
Be aware that this form is for your personal use only. You should not send it with your tax return. The IRS will provide more detailed information on how to reconcile advance CTC payments on your 2021 Individual tax return as the forms are finalized later this year.
2021 Child Tax Credit resources: