How to Cancel Your Child Tax Credit Payments Easily

Cancel Anything How to Cancel Your Child Tax Credit Payments Easily

How to Cancel Your Child Tax Credit Payments

Canceling services and payments shouldn't be as hard as some companies make them out to be. Paypal, eBay, Etsy, and other merchants could make receiving returns or canceling the payments much more accessible.

Have you paid with the wrong card for your DoorDash or WalMart delivery? Sent the wrong amount of money with Cash App, Zelle, or Venmo? Need to cancel your payment for Southwest or United Airlines?

DoNotPay has you covered with the best way to cancel these services and payments and more.

What Is the Child Tax Credit Payment?

Tax season usually brings a sense of relief to struggling families, as they get their tax returns and can pay bills and purchase large items for their homes. One of the reasons some families receive a large amount of cashback from the IRS is the number of children they have claimed.

The Child Tax Credit was increased in 2021 to assist families still struggling with the effects of the pandemic. Eligible families were offered a chance to receive half of those funds in monthly payments from July 2021 through December 2021. What happens if you don't want to split your payment? Read on to find out how to cancel your Child Tax Credit payments.

How to Cancel Your Child Tax Credit Payments

To unenroll from the advanced payments of the Child Tax Credit, you will need to complete the following steps:

  1. Visit the IRS website and locate the Child Tax Credit Update Portal.
  2. Log in to the portal by using your information or creating an account.
  3. Manage your advanced payment options
  4. Check your eligibility and select to un-enroll from the monthly payments.

That's it. You can log out to keep your information secure. It may take weeks for the request to be processed entirely.

Reasons to Cancel Your Child Tax Credit Payments

While some parents are rejoicing about the extra funds each month, others say they don't want to see it yet. Why would you cancel the payment? Here are a few reasons:

  • The expected tax debt is more outstanding than the Child Tax Credit.
  • A larger one-time payment is better for the family's budget
  • Changes in tax situations that have recently or will occur before tax season begins
  • Concerned about incorrect payment amounts based on old IRS information

It is worth noting that even if you un-enroll from the monthly payments, they will still appear in your following income tax refund. The funds you receive month will not count towards taxable income on your tax return. Should your family meet all the requirements and opt-out of the monthly payments, you should see the total amount minus any payments that have already been made on your tax return.

Contact Information IRS

If you need to get in touch with the IRS regarding the Child Tax Credit payments or any other tax-related issues, you can visit or call:

Online PortalChild Tax Credit Update Portal
Assistance CenterTaxpayer Assistance Center
Phone Number1-800-829-1040 (7 am - 7 pm)

You can also consult the many tax preparation businesses for information about your taxes and options. Be informed about what you can and can't do before it becomes a more significant issue.

Potential Problems When Canceling Child Tax Credit Payments

There can be a drawback or two with delaying your payments until tax season begins. One issue that might show up is specifically regarding joint tax filers. Both parents must log in to the website and cancel individually to cancel the payment. Otherwise, your payment will be split in half and sent to your account instead of canceled altogether.

What if you changed your mind and want to receive the payments, but you are already unenrolled? Sorry, un-enrolling is a permanent action with no option to reverse. Think carefully before taking action to un-enroll from the monthly payments.

Lastly, you will receive the payments if you do not meet the deadlines to un-enroll in time. It takes a few weeks to process all the enrollment requests and un-enroll from the payments. Therefore, if you fail to unenroll by the time the deadline comes around, you can expect the next payment to come to you automatically.

Use DoNotPay to Help Cancel Your Child Tax Credit Payments

Are you finding the IRS process hard or confusing? Let DoNotPay simplify canceling your Child Tax Credit payments and any other service that needs to be canceled in an easy three-step process. Simply follow these steps to get the cancelation started:

  1. Search for the Cancel Anything product on DoNotPay.

     

  2. Enter the name of the company you need to cancel your order/payment with.

     

  3. Answer a few questions about whatever you need to cancel so that we can compose a cancellation letter.

     

Once you submit the details, we'll work on composing a cancellation letter for you. All you will need to do is wait for the confirmation that the cancellation is finished.

What Else Can DoNotPay Do?

Done with your Child Tax Credit payments and canceling other services? DoNotPay has much more to offer. See topics like:

DoNotPay has many ways to help you organize, save money, and get items checked off your to-do list.

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