 Internal Revenue Service IRS Tax News. IRS revised 2021 Child Tax Credit and Advanced Child Tax Credit payments frequently asked questions. But first, an attempt at a joke, I apologize in advance. Finally, fed up with the Fed, the IRS, and business regulations in general, I told them, I've had it up to here with your row walls. Yeah, that's what I said. And I'm just turning to around my neck region in case you can't see. And I generally only like to tolerate this crap when it's up to around here. And now I'm just turning to around my knee region. And even that's higher than I would like. But at least then I could take off my shoes and socks, roll up my pants, and wade through the grimy regulations. If these regulations go any higher, it'll be a problem because there's way too many regulations to swallow. Running a business in that environment would surely be like biting off more than you can chew. And who wants to chew on nasty regulations in the first place? That's like biting off more green bean casserole than you can chew. Little loan, swallow. If we want innovation, the driving force in the American economy, stop force feeding innovators more of the equivalent of green bean casserole than they can chew. IR 2022-53, March 8th, 2022, Washington, the Internal Revenue Service today updated its frequently asked questions. The FAQs, FS 2022-17, there's a link to that here on the 2021 Child Tax Credit and Advanced Child Tax Credit payments. These updates are to help eligible families properly claim the credit when they prepare and file their 2021 tax return. And we would expect that there's gonna be a lot of kind of errors with the Child Tax Credit and the Advanced Child Tax Credit, which could delay the tax refunds because remember the IRS is kind of backed up over there. If there's any kind of issuing that's gonna involve an actual person to figure out the problem, then it could back up the tax returns. And we saw that in the prior years, part of the backed up returns had to do with the stimulus payments and basically the advanced form of the stimulus payments, which is an advanced recovery rebate credit, which we also have in the current year. And then we've got the Child Tax Credit, which has been changed and they have this advanced credit portion to it as well, which is another area of potential complications that could delay returns of something if there's some kind of problem with those. So these changes reflect that publication 972, Child Tax Credit has become obsolete. Taxpayers should refer to Schedule 8812 form 1040. There's a length of that here. Schedule 8812 form 1040 is now used to calculate Child Tax Credit and to report advanced Child Tax Credit payments received in 2021 and to figure any additional tax owed if excess advanced Child Tax Credit payments were received during 2021. These FAQs frequently asked questions revisions and additions are as follows. 2021 Child Tax Credit and Advanced Child Tax Credit payments, topic B, eligibility for advanced Child Tax Credit payments and the 2021 Child Tax Credit, that's question three. 2021 Child Tax Credit and Advanced Child Tax Credit payments, topic C, calculation of the 2021 Child Tax Credit, that's question number one and topic D, calculation advanced Child Tax Credit payments, topic that's question one. These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously, as expeditiously as possible. I used to really not like that word but I've been saying it so many times because the IRS is so dang expeditious over there that it's kind of growing on me. So in any case, more information about reliance is available, irs.faqs, there's a link to the reliability or reliance is available here and other stuff and the FAQs so you can check those out and there'll be a link to this in the description.