In this video, I will be covering the new child tax credit for 2021 and answering the following questions:
1) How is it different than the old child tax credit?
2) Who is eligible?
3) When and How much will it be?
4) What to do to prepare?

0:00 - Introduction
0:43 - When Should I Opt Out?
3:24 - Opt Out Deadlines
4:10 - How to Opt Out of the Advanced Child Tax Credit

Sources:
https://www.irs.gov/credits-deduction...

https://www.irs.gov/newsroom/irs-urge...

Kipligner's Child Tax Credit Calculator: https://www.kiplinger.com/taxes/60233...

#childtaxcredit #newchildtaxcredit #2021childtaxcredit

Please note that this video is for information purposes only and is not intended to provide or relied upon for tax, legal, or accounting advice. Please consult your own CPA, tax advisor, legal and accounting advisors.