Americans who want to get advance monthly payments of the enhanced Child Tax Credit can still sign up Monday, Nov. 15, but it’s the last day of the year they’ll be able to.

                By                    Vance Cariaga

The fifth of six advance monthly payments for 2021 is being issued Monday as part of the American Rescue Plan. The final payment will be issued on Dec. 15. Eligible families who currently aren’t getting payments and have not filed a tax return can still get one, the IRS said on its website, but they must sign up on IRS.gov by 11:59 pm Eastern Time on Monday.

If you do sign up, you’ll typically get half of your 2021 CTC on Dec. 15. This means a payment of up to $1,800 for each child under 6, and up to $1,500 for each child ages 6 to 17. This is the same amount that most other families have been receiving in monthly payments that began in July.

Families who receive advance CTC payments this year can claim the rest of the benefit when they file their 2021 federal income tax returns. In early 2022, families will receive Letter 6419 documenting any advance payments issued to them during 2021 as well as the number of qualifying children used to calculate the advance payments.

Families that want to get a December payment by direct deposit but aren’t currently set up for it should visit the Child Tax Credit Update Portal. The change must be made by 11:59 pm Eastern Time on Nov. 29. To access the portal, visit IRS.gov/childtaxcredit2021.

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Families who are already getting monthly payments can also use the Child Tax Credit Update Portal to quickly update their accounts. The portal lets families verify their eligibility and do the following:

  • Switch from receiving a paper check to direct deposit

  • Change the account where their payment is direct deposited

  • Update their mailing address

  • Stop monthly payments

  • Reflect significant changes in their income that could potentially raise or lower their monthly payments.

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