Advance Child Tax Credit (CTC) payments are early payments for parents and dependent children from the Internal Revenue Service (IRS) of 50% of the estimated amount of the CTC that families with qualifying children may properly claim on a 2021 tax return during the 2022 tax filing season. Advance CTC payments to eligible parents began on July 15, 2021.
Service providers, advocates, and community groups are encouraged to continue reminding individuals experiencing homelessness that they may be eligible for this tax credit even though they may not have a permanent address or bank account. The IRS established a new webpage with the most up to date information on the advance CTC, including ways to check enrollment, update banking information, and opt out for families that prefer to save the credit for next year.
You can find more information about the CTC and eligibility here.