January 18, 2022

the IRS will send a letter

  • Payouts from the Advanced Child Tax Credit gave parents up to $300 for each child from June to December 2021.
  • People who have received payments should keep letter 6419 mailed by the IRS to file their 2021 tax returns.
  • Those who received the third stimulus check must also hold letter 6475 to file their tax returns.
  • Read more stories from Personal Finance Insider.

Before the pandemic, parents with children under 17 received up to $2,000 per child on their tax returns, depending on their annual gross income and the ages of their children.

To help parents cope with the economic hardship caused by the pandemic, the US bailout plan was passed in March 2021 may parents with a low to medium income receive an advance on the child discount. The Advance Child Tax Credit (CTC) payments were received by parents via direct deposit if the checking account information they used to file taxes was up to date.

Letter 6419 contains important CTC payment information you need to file taxes

The IRS Sends Informative Tax Letters by mail to anyone who has received Advance CTC Payments. Here’s what you need to know.

Letter 6419 from the IRS lists the total amount of CTC advance payments you received in 2021 and the exact period during which you received payments.

You can also check the total amount of CTC payments you received in 2021 by checking the Child Tax Credit Update Portal on the website of the Tax Authorities.

You will need Letter 6475 to file your taxes if you have received a third round of stimulus checks in 2021

The third round of payments with economic impact, better known as stimulus checks, were in fact advances from the 2021 Recovery Rebate Credit. Aside from a one-time payment of up to $1,400 for individuals and $2,800 for married couples, some people may also have received benefits based on their income level.

If you received a third round of stimulus checks in 2021, you’ll need letter 6475 mailed by the IRS to file your taxes this year. Letter 6475 details how much money you received from the 2021 Recovery Rebate Credit in 2021.

If you qualified for a third round of stimulus checks but did not receive one, you may be able to claim a 2021 Recovery Rebate Credit and receive your payment. You will need Letter 6475 to tell you how much of the Recovery Rebate Credit you can claim on your tax return.

If Letter 6419, the Child Tax Credit Update Portal, or Letter 6475 contains errors or discrepancies about the payments you have received, please call IRS Customer Service at 800-829-1040 from 7 a.m. to 7 p.m. local time.

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