tax credit (1) In general Chapter 77 of the Internal Revenue Code of 1986 is amended by inserting after section 7527 the following new section: 7527A. Advance payment of middle class tax credit (a) In general Not later than 6 months after the date of the enactment of the LIFT (Livable Incomes for Families Today) the Middle Class Act , the Secretary shall establish a program for making advance payments of the credit allowed under section 36A on a monthly basis (determined without regard to subsection (f) of such section) to any taxpayer who— (1) the Secretary has determined will be allowed such credit for the taxable year, and (2) has made an election under subsection (c). (b) Amount of advance payment (1) In general For purposes of subsection (a), the amount of the monthly advance payment of the credit provided to a taxpayer during the applicable period shall be equal to the lesser of— (A) an amount equal to— (i) the amount of the credit which the Secretary has determined will be allowed to such taxpayer under section 36A for the taxable year ending in such applicable period, divided by (ii) 12, or (B) such other amount as is elected by the taxpayer. (2) Applicable period For purposes of this section, the term applicable period means the 12-month period from the month of July of the taxable year through the month of June of the subsequent taxable year. (c) Election of advance payment A taxpayer may elect to receive an advance payment of the credit allowed under section 36A for any taxable year by including such election on a timely filed return for the preceding taxable year. (d) Internal Revenue Service notification The Internal Revenue Service shall take such steps as may be appropriate to ensure that taxpayers who are eligible to receive the credit under section 36A are aware of the availability of the advance payment of such credit under this section. (e) Authority The Secretary may prescribe such regulations or other guidance as may be appropriate or necessary for the purposes of carrying out this section.