According to the IRS, advance payments (up to half of the maximum credit), was sent to eligible taxpayers during the latter part of 2021.
They did confirm, if the IRS has received your banking information, your payment was to be sent to you as a direct deposit.
The IRS used the bank account information from the following sources, in the following order:
- Your 2020 tax return.
- Your 2019 tax return, including information you entered into the Non-Filer tool on IRS.gov in 2020.
- A federal agency that provides you benefits, such as: Social Security Administration, Department of Veterans Affairs, or the Railroad Retirement Board.
What if the IRS does not having any banking information for me?
Your first payment was to be sent by mailed check to the last address the IRS has on file for you.
Can I update my banking information?
The IRS portal is no longer available to update your banking information for the ACTC. If you have not filed a return, you still have time to recover the Child Tax Credit.
Please use this IRS link, for additional information: ACTC Payments in 2021