The IRS recently answered a number of common questions about the 2021 Child Tax Credit (CTC) advance payments that Americans began receiving in mid-July. Here are the highlights:

Do I have to pay tax on the …

If your refund amount is different than stated on the filed tax return, part or all of your refund may have been used to pay off (offset) past-due federal tax, student loans, state income tax …

November

Day

01
Certain Small Employers – Certain small employers. Deposit any undeposited tax if your tax liability is $2,500 or more for 2021 but less than $2,500 for the third quarter.

01
Employers – Federal unemployment tax. Deposit the …