Please disable your adblock and script blockers to view this page

Don't throw away this document. Why IRS Letter 6419 is critical to filing your 2021 taxes.


the Internal Revenue Service
IRS
►Save
The Daily Money
TurboTax
Budget
the Department of Treasury
the American Institute
IRS.gov


April Walker
Steber
Jackson Hewitt’s
Antonio Brown
George Smith
Andrews Hooper Pavlik

No matching tags

No matching tags

No matching tags


2021.►Free
2022While
15e
Flint
Michigan
Bloomfield Hills
Payments.”If

No matching tags

Positivity     44.00%   
   Negativity   56.00%
The New York Times
SOURCE: https://www.usatoday.com/story/money/personalfinance/2022/01/23/child-tax-credit-irs-letter-2021/6628688001/
Write a review: USA Today
Summary

Others who don't want to wait may need to review their own records and check their specific information at the IRS "Child Tax Credit Update Portal Site." Someone who normally does not make enough money to be required to file a tax return will still need to keep this letter to claim extra money that could be owed for the child tax credit when they file a 2021 federal income tax return. Parents who had a baby born in 2021 did not receive advance payments last year but now can claim that child on their 2021 income tax returns to receive money.)The IRS notes that "families who received advance payments need to file a 2021 tax return and compare the advance payments they received in 2021 with the amount of the child tax credit they can properly claim on their 2021 tax return."If you lose the letter — and do not come up with a number that exactly matches the IRS files — you're likely to face lengthy delays in processing your income tax return.And yes, you'll wait a long time to get your federal income tax refund.Schedule 8812 notes specifically on Line 14f: "Caution: If the amount on this line doesn’t match the aggregate amounts reported to you (and your spouse if filing jointly) on your Letter(s) 6419, the processing of your return will be delayed."Mark Steber, Jackson Hewitt’s chief tax information officer, cautioned tax filers that they need to make sure their total dollar amount for what was received for the advance payments is accurate when they file their tax returns."If this information isn’t correct on the 2021 tax return, taxpayers risk a delay in receiving their refund," Steber warned. Antonio Brown, a CPA in Flint, Michigan, said on Jan. 20 that he had not heard of any of his clients getting the letter yet.It is possible, he said, to file the tax return without the letter but you need to know exactly how much advance child tax credit you have received and how many dependents the money covered in 2021.In general, Brown said, it is important to refer to Letter 6419 before you file a return because in some cases, a taxpayer could have received a different amount for one child under age 5 and another amount for the dependent ages 6 through 17. "If you are eligible for the child tax credit, but did not receive advance child tax credit payments, you can claim the full credit amount when you file your 2021 tax return during the 2022 tax filing season," according to the IRS.And again, you want to keep Letter 6419 to help you accurately report the total dollar amount you've already received upfront in 2021.

As said here by