How To Use The Child Tax Credit Direct Deposit Portal
Starting on July 15, advance monthly payments of the child tax credit will begin to be distributed through direct deposit.
See: Having Trouble Accessing the Child Tax Credit Portal? Here’s How To Sign Into ID.me
Find: How Is the Child Tax Credit Calculated?
If you received your tax return through direct deposit and are eligible for the tax credit then you will not need to do anything further. The IRS will automatically deposit the amount of your credit into the same bank account they deposited your tax return.
If you are unsure if you are eligible for such payments, you can log into the Child Tax Credit Update Portal here.
From there, you will verify your identity through the third-party app ID.me. Once you are in, you will need to:
Scroll down and click “Manage Payments”
From that landing page, scroll down to the bottom and click “Manage Advance Payments”
You might be asked to sign-in again at this point. Once you do, you will be directed to a page that at first does not seem like a homepage, but is.
The first section will say “Manage Your Advance Payments of The Child Tax Credit.”
Within that section, at the bottom, it will say “Update your information in your profile” with the “your profile” hyperlinked.
See: When You Can Opt Out of Monthly Child Tax Credit Payments — And Why You Might Want To
Find: How Can I Check the Status of My Child Tax Credit?
Once you click through, you will see a “Payment Info” section. This is the Direct Deposit portal section, and by clicking on the top right where it says “Edit” you can change your bank account information. There will already be bank account information displayed in this section — this is where the payment is currently scheduled to be deposited.
A drop-down menu will appear where you can enter the new routing and checking account information if you wish to change the bank account to which you receive your child tax credit.
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This article originally appeared on GOBankingRates.com: How To Use The Child Tax Credit Direct Deposit Portal
