Beginning in December, the IRS will begin issuing Letter 6419 to recipients of the Advance Child Tax Credit. This letter will include the total amount of the advance payments taxpayers received between July and December of 2021.
In late January of 2022, the IRS will also begin issuing Letter 6475, confirming third round Economic Impact Payments (aka stimulus payments) issued. Recipients may have also gotten Notice 1444-C earlier in the year, around the time any third round stimulus payments were received.
Recipients are urged to retain these letters along with the rest of their tax information, as the letters will be needed to prepare their 2021 tax returns during this upcoming tax season. Having this information on hand may reduce errors and/or delays in processing. For taxpayers filing a joint return with their spouse, each spouse may get their own letter.
For more information, please contact Bormel, Grice & Huyett, P.A. at (410) 792-7259 and ask for one of our experienced tax professionals.
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