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IRS Revises FAQs for Child Tax Credit and Advanced Child Tax Credit Payments

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In their ongoing efforts this season to better assist tax professionals and as update to an earlier communication, Partner Support is sharing yesterday’s IRS notice of revisions to the Child Tax Credit and Advance Child Tax Credit FAQs contained within the Fact Sheet.

  • New for 2022, these IRS Fact Sheets are an excellent one-stop document containing the most frequently asked questions (FAQs) organized by topic, plus additional information and links to related resources. The IRS keeps them updated often so that you have the latest information as you prepare TY2021 returns for your clients.

We continue to encourage our partners to review these FAQs and to follow the instructions and guidance presented by the IRS as applicable to your clients.   

IRS Fact Sheet 2022-17, March 2022 

We have also included below, the associated news release IRS issued announcing these revised FAQs. 

IRS News Release – IR-2022-53, March 8, 2022 | Español

IRS Revised FAQs for 2021 Child Tax Credit and Advance Child Tax Credit Payments

WASHINGTON — The Internal Revenue Service today updated its frequently asked questions (FAQs) (FS-2022-17 PDF) on the 2021 Child Tax Credit and Advance Child Tax Credit Payments. These updates are to help eligible families properly claim the credit when they prepare and file their 2021 tax return.

These 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 child tax credits and to report advance child tax credit payments received in 2021, and to figure any additional tax owed if excess advance child tax credit payments were received during 2021.

These FAQs 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

These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously as possible.

Thank you, 

Your Partner Support Team 

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