A fourth stimulus check may never come, but eligible recipients will continue to get another type of stimulus payment through December. This stimulus payment, called the child tax credit, is a sort of monthly coronavirus stimulus check, and the IRS recently made an important update to the CTC portal.
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A recent update from the IRS adds a new feature to the online portal for the CTC payment. This new feature is primarily for those who expect to get the payment through paper checks. The update basically allows the recipients to quickly and easily update or change their mailing address.
“The Internal Revenue Service has launched a new feature allowing any family receiving monthly Child Tax Credit payments to quickly and easily update their mailing address using the Child Tax Credit Update Portal,” the IRS said in a press release.
Updating your address is important as it would help recipients to avoid delays, as well as ensure that their checks aren’t delivered to the wrong address. Recipients who expect to receive the CTC payment through checks, are recommended to update their address, if needed, using this new feature on the portal.
Recipients still have time left to use the new feature to update their address for the September payment, as well as all future checks. The last date to make changes for the September payment is until midnight Eastern Time on Monday, August 30.
Though you will be allowed to make changes even after August 30, your September payment may be delayed or sent back to the IRS, in case it is undeliverable.
To use the feature, head over to the Child Tax Credit Update Portal, and to know more about the update, visit this link.
Other Benefits Of Updating Address
Another benefit of changing your address through this portal is that the change would reflect across all the IRS information systems. This would be helpful if you are eligible for any other benefit from the IRS.
Moreover, updating the address would benefit those receiving payments through direct deposit as well. The IRS will be mailing the year-end summary statement of CTC payments to the address it has on file.
“If you change your mailing address using the Child Tax Credit Update Portal, the IRS will use this updated address for all future IRS correspondence so the address change feature can also be helpful to taxpayers that are receiving payments by direct deposit,” the agency says.
Taxpayers will need this year-end summary, called Letter 6419, to complete their 2021 federal income tax return next year. Without this letter, the taxpayer may find it difficult to claim the other half of the child tax credit. Also, this letter will be important if you opted out of the child tax credit payment, or you didn’t get the full payment.
