Question

New monthly payments for dependent credit

Forum|Forum|5 years ago
April 16, 2021
1 reply
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Has there been any office support from the IRS in term of how separated parents who alternate claiming thier child’s tax credit can assure the early taxcredit payments (for 2021 dependent credit) will be sent to the correct parent starting in July?

it seems like the parent who claimed the child in 2020 would be getting the early monthly payments when they are intended for the parent claiming in 2021

Critter-3

Ok ... FIRST don't count on any advance payments starting this year at anytime as the IRS is overwhelmed as it is and have stated they will probably NOT get around to this at all in 2021.

Next ... there have been no guidance issued to date on the question you have however if it ever happens and it follows suit with the advance stimulus payments the parent who claimed the child on the 2020 return will get the advance payments and get to keep it even if they don't claim the child on the 2021 return. Then the parent who claims the child on the 2021 return will ALSO get the credit ... another legal double dip situation. Watch the IRS web site for more info on this matter as the year progresses. https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021