Child Tax Credit

Unenrollment Option
The IRS has released an online tool enabling taxpayers to opt out of receiving advance Child Tax Credit (CTC) payments. This portal also provides additional information regarding eligibility and expected CTC payments.
This payment is an advance of the tax credit normally applied at the time of filing. It reduces the amount of the tax credit for payment of tax. Therefore, by accepting the child tax credit payments in advance, your refund will be reduced, or if tax is owed, the amount due will increase.
To help alleviate your tax burden at the time of filing you can unenroll and wait to claim the entire credit once the 2021 tax return is filed.