CLEVELAND (WJW) — Taxpayers should be keeping an eye out for two letters coming from the Internal Revenue Service in the next week or so, if they haven’t already.
The first letter contains important information that can help ensure the tax return is accurate.
The IRS started sending them out in late December 2021 continuing into January, saying “2021 Total Advance Child Tax Credit (AdvCTC) Payments” near the top and, “Letter 6419” on the bottom righthand side of the page.
They letter explains that if you received advance CTC payments, you’ll need to report that amount in your tax return. You can check the amount by using the CTC Update Portal.
The second letter will help individuals determine if they are eligible to claim the Recovery Rebate Credit for missing stimulus payments.
You can expect to see the letter in late January 2022. It’ll be sent to anyone who received a third payment in late January 2021 and say, “Your Third Economic Impact Payment” near the top and, “Letter 6475” on the bottom righthand side of the page.
If you’re eligible for RRC, you’ll need to file a 2021 tax return to claim your remaining stimulus amount. You can check the Economic Impact Payment amounts by logging into your IRS online account.
If you’re getting ready to file your 2021 tax return, click here for steps you can take to make filing easier.
Using this information when preparing a tax return electronically can reduce errors and avoid delays in processing.
The petition, signed by more than 95,000 people, asks for a $1,400 payment to people on Social Security.
A Change.org petition calling for recurring $2,000 monthly payments for all Americans has more than 3 million signatures.