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Cash And Kids: Momentum On Child Tax Credit

Cash And Kids: Momentum On Child Tax Credit

1 Credit


Subject Area


Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00623-21-S)

1 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0595)

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 PL credit for Chartered Financial Analyst (CFAs)

1 CPE credit for Delaware Public Accountants

1 CPE credit of Iowa Public Accountants

1 CPE credit of Maine Public Accountants

1 CPD credit (Verifiable) for CPA/PFS

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00623-21-S)

1 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00623-21-S)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Before starting this self study program, please go through the instructional document.


  • Phaseouts
    4 mins
  • Daycare credit
    11 mins
  • Divorce and the CTC
    19 mins
  • Payback Protection
    32 mins
  • Form 8867
    47 mins

Course Description

The American Rescue Plan expanded the child tax credit, and tax pros and their clients have many questions. Advance payments of the expanded credit started being sent in July.

On July 15, more than 35 million American families received the first of six-monthly child tax credit payments.

However, some families may want to opt out of the remaining payments, according to financial experts, and instead, wait to claim the entire credit when they file their 2021 taxes next year.

Before the payments began, roughly 1 million families had already decided to forgo them, which can be hundreds of dollars per month, according to the IRS and U.S. Treasury Department.

It’s important to allow that ability to opt-out of these payments because we don’t know how people have budgeted their tax refunds, and so if it’s important to them that they receive this credit as one payment, we want to make sure people still have that option.

Families can still pause the money through an IRS online portal. The last day to tell the agency not to send the next payment is Aug. 2.

But the question is:

Should people opt out of these payments?

How will it impact a taxpayer's 2021 tax return?

We will cover these topics and more in this fast-moving 1-hour CPE/CE webinar. As time allows, we will also cover the Form 8867, due diligence requirements, which will apply to the child tax credit.

Major Topics covered in this online CE/CPE webinar:

Learning Objectives

  • To discuss the new child tax credit.
  • To describe the IRS guidance and where to find it.
  • To review the expanded credit for childcare expenses.
  • To analyze how to properly advise clients on how the child tax credit, expanded childcare credit, and stimulus payments, come together.
  • To discuss how to use Form 8867, the due diligence checklist, to avoid penalties.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • Certified Public Accountant
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Financial Planner
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Personal Financial Specialist (PFS)
  • Staff of Accounting Firm
  • Tax Attorney
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Young CPA