WASHINGTON - The Internal Revenue Service (IRS) announced on Monday it has launched two new online tools designed to help people manage their monthly child tax credit payments.
The initiative was created under the Biden administration’s American Rescue Plan. The two tools include an eligibility questionnaire to help families quickly determine whether or not they qualify for the advance monthly payments under the child tax credit and a portal that allows families to verify their eligibility and gives them the option to receive the payment in a lump sum or monthly installments, according to an IRS news release. "This secure, password-protected tool is available to any eligible family with internet access and a smart phone or computer," the.