AMERICANS will want to follow up on two important letters from the Internal Revenue Service (IRS) this month.
The IRS began mailing “6419” letters (for the child tax credit) in December and will continue to mail them through the end of this month.
This is an important thing to keep in mind when applying for Tax because this letter contains key information about the number of eligible children and the total amount of tax credit payments received in 2021.
Later this month, the IRS will begin sending out letters “6475,” regarding the third round of stimulus payments.
This letter helps determine if you can claim the Cash Back Credit on your 2021 tax return.
About 36 million families will be expecting the letter, which will be crucial to receiving any refunds when it comes time to file taxes for 2021.
“Letter 6475 applies only to the third round of economic impact payments issued starting in March 2021 and continuing through December 2021,” the IRS said.
“The third installment of Economic Impact payments, including ‘plus’ payments, are prepayments of the 2021 Recovery Refund Credit that will be claimed on the 2021 tax return. .”
Recent Duke Alexander Moore tax expert declare that both letters are needed to claim additional child tax credits and urge recipients not to throw them away.
He also warned that failure to pay taxes without a letter could lead to delays.
When you apply in 2022, this is why your tax return may be smaller.
And explain Important tax dates and deadlines for 2022.
https://www.the-sun.com/money/4395505/stimulus-child-tax-credit-irs-letter/ You need to watch out for these two letters IRS this month because they can help you get more money back