The American Rescue Plan contained the important change allowing up to half of the tax year 2021 Child Tax Credits to be disbursed as advance payments to eligible families from July throughĭecember. ![]() Advance Child Tax Credit and online support The 2020 Recovery Rebate Credits allowed individuals who did not receive their first- or second-round EIPs, or who received less than the amounts they were eligible for, to claim the credits when they filed their 2020 tax return. The IRS started issuing checks the very next day - Maproviding immediate help to people across the country. The American Rescue Plan Act of 2021 authorized additional rounds of stimulus payments (EIP 3), which was signed into law on March 11, 2021. A lengthier discussion of recent data was also released today PDF.Īs the pandemic continued into 2021, the IRS delivered tax administration relief to millions of taxpayers, providing financial assistance for Americans. The Data Book provides point-in-time estimates of IRS activities as of September 2021. In addition to describing work performed during the pandemic, the IRS Data Book for fiscal year 2021 comprises 33 tables describing a wide variety of IRS activities from returns processed, revenue collected, and refunds issued to the number of examinations conducted and the amount of additional tax recommended, as well as budget and personnel information. The breadth of these missions has strengthened my belief that a fully functioning IRS is critical to the success of our nation." "The IRS was called on to provide economic relief during this national crisis while also fulfilling our agency's core responsibilities of tax administration IRS employees answered Congress' call to deliver two more rounds of Economic Impact Payments and also implemented changes to the Earned Income Tax Credit, the Child Tax Credit and other refundable credits as part of the American Rescue Plan. "During Fiscal Year 2021, the COVID-19 pandemic continued to present the IRS with some of the greatest challenges in our agency's history, and the way our employees responded illustrates the significant role that the IRS plays in the overall health of our country," said IRS Commissioner Chuck Rettig. ![]() WASHINGTON - The Internal Revenue Service today issued the Data Book detailing the agency's activities during fiscal year 2021 (Octo– September 30, 2021).
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