On July 15, 2021, the IRS will start making Advance Child Tax Credit (ACTC) payments. Treasury Secretary Janet Yellen estimates that about 80% of eligible families will receive the ACTC payments from July through December of this year. She spoke to the House Appropriations Financial Services and General Government Subcommittee on May 27. She recognized that finding the other 20% of eligible persons will be a "whole-of-government" effort.
"Non-tax-filers are much more of a challenge," noted Yellen. "What is most important for these nonfilers -- and that includes some of the poorest families...More