Who Should Opt Out of the Enhanced Child Tax Credit for 2021?

Advance payments of the Enhanced Child Tax Credit for 2021 will start showing up soon. GJM Tax Partner Charlie Heid explains in our latest video blog why some families may want to opt out of these payments.

If you still aren't sure whether or not you should take the advance payments, we encourage you to talk with your tax advisor. The IRS has also created a new portal with some helpful resources to educate families on whether or not it makes sense to receive the advance payments. The portal also has information on how to opt out of the payments and how to update information that will impact your payments.

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