IRS Information Letters
IRS will send Letter 6419, 2021 Advance Child Tax Credit (CTC)
, starting late this month and continuing into January. The letter will include the total amount of advance CTC payments taxpayers received in 2021 and the number of qualifying children used to calculate the advance payments.
Families who received advance CTC payments will need to file a 2021 tax return and compare the payments they received in 2021 with the amount of the CTC they can properly claim on their return. Families should keep this and any other IRS letters about advance CTC payments with their tax records.
IRS will begin issuing Letter 6475, Your Third Economic Impact Payment (EIP)
, in late January. This letter will help EIP recipients determine if they are entitled to and should claim the Recovery Rebate Credit on their 2021 tax returns. Letter 6475 only applies to the third round of EIPs that was issued from March through December 2021. Read more here