The Treasury Inspector General for Tax Administration (TIGTA) has completed another audit of IRS processes for the 2021 advance Child Tax Credit (CTC). The American Rescue Plan Act enabled eligible taxpayers to receive up to one half of their estimated 2021 CTC in advance monthly payments for part of the year. As a result, the IRS issued 216.9 million advance payments totaling $93.5 billion. Previously, TIGTA found that 3.3 million advance payments were made erroneously. In its latest review, TIGTA identified 3.8 million tax returns with discrepancies between IRS CTC amounts and the amounts taxpayers claimed. TIGTA has made seven new recommendations to help resolve such discrepancies.
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