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Frequently asked questions about the 2021 Child Tax Credit and Advance Child Tax Credit Payments Topic F

IR-2022-192, October 28, 2022 — The Internal Revenue Service today released a new set of tax gap estimates on tax years 2014 through 2016 showing the estimated gross tax gap increased to $496 billion, a rise of over $58 billion from the prior estimate.

FS-2022-29, May 2022 — This Fact Sheet revises the 2021 Child Tax Credit and Advance Child Tax Credit frequently asked questions (FAQs). These updates are to help eligible families properly claim the credit when they prepare and file their 2021 tax return.

IR-2022-33, February 15, 2022 — The Internal Revenue Service announced today that Form 14457, Voluntary Disclosure Practice Preclearance Request and Application, has been revised, including expanding a section on reporting virtual currency.

IR-2023-186, Oct 6, 2023 — The Internal Revenue Service issued proposed regulations, Revenue Procedure 2023-33 and frequently asked questions today for the transfer of new and previously owned clean vehicle credits from the taxpayer to an eligible entity for vehicles placed in service after Dec. 31, 2023.

IR-2022-235, December 29, 2022 — The Treasury Department and Internal Revenue Service today issued Revenue Procedure 2023-11 providing updated guidelines for accounting method changes for specified research or experimental expenditures.

IR-2024-308, Dec. 6, 2024 — On the final day of National Tax Security Awareness Week, the Internal Revenue Service and its Security Summit partners urged tax professionals to reassess their plans for protecting themselves and their clients’ sensitive information amid increasing attempts by identity thieves to steal tax data.

IR-2023-12, January 24, 2023 — The Internal Revenue Service today reminded taxpayers that they must again answer a digital asset question and report all digital asset-related income when they file their 2022 federal income tax return, as they did for fiscal year 2021. The term “digital assets” has replaced “virtual currencies,” a term used in previous years.

Publication 5354, Criminal Tax Bulletin, provides updates related to criminal tax enforcement. The bulletin is for informational purposes only, it does contain directives.

IR-2024-113, April 17, 2024 — The Internal Revenue Service today updated frequently asked questions in Fact Sheet 2024-15 to address the federal income tax treatment of amounts paid for the purchase of energy efficient property and improvements.