Financial Fundamentals Blog

Important information about the Advance Child Tax Credit Payments

As a part of the American Rescue Plan Act, enacted in March, eligible families began to receive Advance Child Tax Credit payments on July 15.


Advance Child Tax Credit payments are early payments from the Internal Revenue Service of 50% of the estimated amount of the Child Tax Credit that eligible persons may properly claim on their 2021 tax return during the 2022 tax filing season. 


The IRS is calculating the payment based on a person's 2020 tax return, including those who use the non-filer sign-up tool. If that return is not available because it has not yet been filed or is still being processed, the IRS will instead determine the initial payment amounts using the 2019 return or the information entered using the non-filers tool that was available in 2020.


If an eligible taxpayer did not file for 2019 or 2020, they may use a new online non-filer sign-up tool to register for the monthly Advance Child Tax Credit payments.


To make sure families have easy access to their money, the IRS will issue these payments by direct deposit, as long as correct banking information has previously been provided. Checks for mailed payments should have arrived on or after July 15.


The dates for the Advanced Child Tax Credit payments are:

  • July 15
  • August 13
  • September 15
  • October 15
  • November 15
  • December 15

For those who do not file taxes, please follow the steps on the IRS website to submit your information to receive your Advance Child Tax Credit payments.


If you need to make changes to your direct deposit informationthe IRS has opened a portal for you to securely update your payment information, including the option to opt-out of receiving advanced child tax credit payments. If you are setting up a direct deposit, you will need your 7 17 Credit Union account number and our routing number, which is 241282849.


For more information, visit, or read FAQs on the 2021 Child Tax Credit and Advance Child Tax Credit Payments