Updated FAQs for Child Tax Credit, advance Child Tax Credit payments and unemployment compensation exclusion

Issue Number:​ ​ 2021-45

Inside This Issue

  1. Families will soon receive November advance Child Tax Credit payments; deadline approaching to sign up online for December advance payment
  2. Updated FAQs for Child Tax Credit, advance Child Tax Credit payments and unemployment compensation exclusion
  3. Commissioner Rettig pens op-ed on the importance of providing the IRS with vital funding
  4. IRS financial report available
  5. Easy steps taxpayers can take now to make filing season easier in 2022
  6. News from the Justice Department’s Tax Division
  7. Technical Guidance

1.​ ​ Families will soon receive November advance Child Tax Credit payments; deadline approaching to sign up online for December advance payment


Millions of American families will soon receive their advance Child Tax Credit (CTC) payment for the month of November. This fifth batch of advance monthly payments, totaling about $15 billion, will reach about 36 million families across the country. Low-income families who are not getting payments and have not filed a tax return can still get one, but they must sign up on IRS.gov by 11:59 p.m. ET on Monday, Nov. 15. Encourage your clients to visit IRS.gov for more information about how to sign up and how to make changes to their account.

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2. Updated FAQs for Child Tax Credit, advance Child Tax Credit payments and unemployment compensation exclusion


The IRS updated frequently asked questions (FAQs) for the 2021 Child Tax Credit and advance Child Tax Credit Payments to describe how taxpayers can now provide the IRS an estimate of their 2021 income using the Child Tax Credit Update Portal (CTC UP). The IRS also updated the FAQs on 2020 Unemployment Compensation Exclusion.

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3.​ ​ Commissioner Rettig pens op-ed on the importance of providing the IRS with vital funding


In case you missed it: IRS Commissioner Chuck Rettig wrote a column that appeared in Thursday’s issue of The Washington Post. In the piece, Commissioner Rettig discusses the importance of providing the IRS with vital funding during the next decade.

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4.​ ​ IRS financial report available


The IRS published its financial report, which provides the American people with a comprehensive view of the IRS’s financial activities as well as the accomplishments of its finance management community. This article is also available in Simplified Chinese.

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5.​ ​ Easy steps taxpayers can take now to make filing season easier in 2022


Encourage your clients to take important steps this fall to help them file their federal tax returns in 2022. Planning ahead can help people file an accurate return and avoid processing delays that can slow tax refunds. Visit IRS.gov for tips and resources to make tax filing easier in 2022. This article is also available in Spanish and Simplified Chinese.

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6.​ ​ News from the Justice Department’s Tax Division


A federal court in the Eastern District of Michigan has permanently banned Detroit-area tax return preparer Abdou Ndiaye and Ndiaye’s LLC, dba Pro Tax Services, from preparing federal income tax returns for others and from owning or operating any tax return business in the future.

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7.​ ​ Technical Guidance


Revenue Procedure 2021-45 sets forth the annual inflation-adjusted items for 2022 for various provisions of the Internal Revenue Code of 1986 as amended as of Nov. 10, 2021.

Revenue Procedure 2021-47 provides guidance on the income tax treatment and information reporting requirements for payments made to or on behalf of financially distressed individual homeowners by certain entities with funds allocated from the Homeowner Assistance Fund (HAF), which was established under section 3206 of the American Rescue Plan Act of 2021, Pub. L. No. 117-2, 135 Stat. 4 (March 11, 2021) (ARP), in response to the coronavirus disease (COVID-19) pandemic.

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