The Internal Revenue Service has created a new online tool for families that are normally not required to file an income tax return to register for the expanded Child Tax Credit payments, which were authorized by the American Rescue Plan and which will begin to be distributed on July 15. The sign-up tool is intended for individuals who did not file an income tax return for 2019 or 2020.
Users of the tool can also choose to enter direct deposit bank information so the IRS can deposit the payments directly into their checking or savings account. Eligible individuals who filed a 2019 or 2020 tax return or used the IRS Non-filers tool last year to register for Economic Impact Payments do not need to take any action to receive their advance Child Tax Credit payments beginning in July, the IRS said.
