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You can still opt out of advance child tax credits

There's another deadline to choose to waive the monthly payments from the IRS.

INDIANAPOLIS — Another deadline is coming up if you want to opt out of those child tax credit payments.

If you want to opt out of the remaining advance child tax credit payments, you must do so before August 31, 2021.

If you make this move, you are not turning down the money forever, just delaying it and taking the credit at tax time next spring.

To opt out, just go to the child tax credit update portal on the IRS web site.

If you're married filing jointly, the IRS says both parents must log in and unenroll.

If you don't opt out, your next payment will hit September 15.

Eligible families are receiving $300 monthly for each child under 6 and $250 per child between 6 and 17.

It's part of the American Rescue Plan passed in March.

You can also use this time to update your bank account if it has changed since last month.

The advance payments will stop in December.

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