Back to all articles
  • Finance 101

Are You Ready for Your Next Advance Child Tax Credit Payment?

Want to opt-out of future payments? Wondering how your credit was calculated? We have the info you need.
Since July 15, eligible taxpayers have received monthly Advance Child Tax Credits (ACTC) from the Federal Government. These ACTC payments enable families under a certain income level with dependent children under 17 years old to receive part of their yearly tax credit in advance, rather than waiting until they file their 2021 tax return. Now a few months into the payments, some may wish to opt-out of future payments.

If you wish to unenroll from the remaining ACTC payments, follow these steps:

  1. View the deadlines to unenroll for each payment.
  2. Visit the IRS’ Advance Child Tax Credit web page.
  3. Click the “Manage Payments” button.
  4. Follow the prompts.

Wondering how the Federal Government calculated your payment amount?
The highest payment amount for eligible taxpayers is $300 per month for each qualifying child under age 6 and up to $250 per month for each qualifying child ages 6 to 17.

You’ll get the maximum credit if you’re a taxpayer with a modified adjusted gross income (AGI) of:

  • $75,000 or less for singles
  • $112,500 or less for heads of household
  • $150,000 or less for married couples filing a joint return and qualified widows and widowers

Looking for more info on ACTC payments?
Click here to read our FAQ page.

Fraud Warning: Be vigilant against financial scams. Advance Child Tax Credit payments create new opportunities for scammers to attempt to steal your information. Do not respond to any unsolicited requests for your information. Remember: the IRS will not initiate contact with you through email, text message or social media messages.

If you feel your Apple Bank accounts may have been compromised, call CustomerLine at 914-902-2775. Our TDD number is 800-824-0710.