The IRS updated its FAQs on Feb. 1 for the 2021 child tax credit (CTC) and advance payments.
The update modifies an existing question under Topic H (No. 4) and adds a new one (No. 10), both addressing reconciliation for advance CTC payments on the 2021 tax return.
The IRS issued the FAQs to provide general information to taxpayers and tax professionals as quickly as possible.