Tax Pros Warn of Risk to Receiving the Child Tax Credit via Advance Payments

Tax Pros Warn of Risk to Receiving the Child Tax Credit via Advance Payments
The Internal Revenue Service (IRS) building is seen in Washington, D.C., on Feb. 19, 2014. Jim Watson/AFP/Getty Images
Tom Ozimek
Tom Ozimek
Reporter
|Updated:

While the White House is touting the advance payments of the enhanced child tax credit as a way to help families struggling to make ends meet in an economy that has yet to fully recover from the pandemic recession, some tax professionals are urging people to consider opting out and instead choosing to receive a lump sum during next year’s tax season.

White House National Economic Council Director Brian Deese told CNN in an interview on June 21—which the Biden administration has designated as Child Tax Credit Awareness Day—that “it’s a great day because we will be delivering tax relief to millions of American families.”
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
twitter
Related Topics