CONCERNED parents received a vital letter from the IRS, but found it may have incorrect information about the child tax credit payments they received in 2021, potentially delaying tax filings.
Parents may be eligible for an additional $3,600 when they file taxes in 2022, as long as they hold onto the IRS letter.
But the IRS acknowledged that it has received complaints from taxpayers about the letter showing the incorrect dollar amount on the letter.
While the IRS does not know how many letters were sent out incorrectly, Commissioner Chuck Rettig said in a media call Monday that he was “highly confident that it is nowhere near millions or hundreds of thousands”.
In the meantime, here are actions you can take to make sure you have accurate information when filing taxes.
The IRS has a child tax credit portal where you can view your payments.
If you opted to receive those payments through direct deposit, you can take a look at your bank statements for each month and see how much exactly has been deposited.
You’ll of course want to double-check these and make sure they match.
An estimated 36million families should be expecting the letter from the IRS, which will be sent to those eligible to receive the expanded child tax credit.
The document is called Letter 6419: 2021 advance Child Tax Credit (CTC).
Families who were eligible for the expanded Child Tax Credit but did not receive any monthly payments in 2021 will still be able to claim the full amount on their 2021 tax returns.
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