 TITLE: New Child Tax Credits Under the 2021 Stimulus Plan CONTENT: Do You Need to Take Any Action Now?\n-----------------------------------\nThe IRS will do the legwork needed to figure out eligibility and distribute benefits, much as they did with stimulus checks. If the information in your most recent 2020 or 2019 tax return is still accurate and qualifies you for child tax credits, you don't have to do much except wait.\nHowever, if any of the following items are on your to-do list, consider taking care of them now—or prepare to do so when the IRS is ready to receive information:\n1.  If you haven't filed taxes for 2020, file now—even if your income does not require you to file. That's the fastest way to give the IRS the information it needs to get you started.\n2.  Make sure each of your children has a Social Security Number.\n3.  Set up direct deposit with the IRS.\n4.  Make note of any changes to your income, filing status, number of children—anything that might change your eligibility to receive child tax credit advance payments since you last filed your taxes. When the IRS makes online reporting available, be sure to notify them of your new information. END