Dependents

[Youngchar1]

I have 3 kids school age. I filed 2 dependents on last year's taxes and gave ex husband 1 dependent. This coming year I want to file 3 dependents and get the kid tax relief credit early. Is there a way to update the dependents status to 3?

I don't wish to amend last year's taxes. But would like the tax relief these next 6 months for 3 kids?

[Sandyln]

Welcome to our Community!!! 

Claiming the Child tax credit in alternating is going to be an issue because the advance credits will be based on 2020 tax returns, or the most recent year the IRS has on file. Technically, though, the parent claiming the dependents for 2021 should get the payments, which can complicate things if the parents alternate years. 

For example: If Parent A claimed the child in 2020 but Parent B will claim him or her in 2021, Parent A will still get the advance payments, which means they may want to go ahead and waive them future tax payments because there’s a risk that if you’ll have to repay it in the 2021 tax season. 

Since you will be claiming all three of your children 2021, I would suggest both you and your ex-husband change the information on portal so the information is correct.

You would use the Manage Payments portal to:

• Check if you’re enrolled to receive payments
• Un-enroll to stop getting advance payments
• Provide or update your bank account information for monthly payments starting with the August payment

Here is the link to the Child Tax Credit Update Portal:  https://www.irs.gov/credits-deductions/child-tax-credit-update-portalHere is a link to the 2021 Child Tax Credit and Advance Child Tax Credit Payments Frequently Asked Questions:  https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-f...Q A16. When will I be able to update my information? (added June 21, 2021)A16. You will be able to update certain information in the coming months:

  *Date You Can Make Changes

 What You Can Do

   June 21

•  Find out if you're eligible
• Unenroll from payments
• See a list of your payments

   June 30

•  Make changes to your bank information for your payments beginning in August

   Early August

•  Make changes to your address

   Late summer 

•  Make changes to your dependents, marital status and income
• Re-enroll if you previously unenrolled

* Dates subject to change

irs.gov

2021 Child Tax Credit and Advance Child Tax Credit Payments Frequently Asked Questions | Internal Re...

There have been important changes to the Child Tax Credit that will help many families receive advance payments. The American Rescue Plan Act (ARPA) of 2021 expands the Child Tax Credit (CTC) for tax year 2021 only. Below are frequently asked questions about the Advance Child Tax Credit Payments in 2021, separated by topic.