Why You Should Keep IRS Letter 6419

Filing your tax return involves a lot of paperwork and documentation and keeping track of what is important can be a challenge. But it is essential that you hold on to one letter that you may receive from the Internal Revenue Service (IRS) this year. Letter 6419 is the official documentation containing the details you will need to report payments received through the Child Tax Credit program.

Specifically, Letter 6419 will include the total amount of advance Child Tax Credits payments you received in 2021. Families who received the advance child tax credit in 2021 must reconcile what they received last year with what their financial situation is this year and file a Schedule 8812.

The IRS issued the first advance payment to eligible families on July 15, 2021 as part of the temporary expanded Child Tax Credit program. Payments of up to $300 per child, per month were made through December, 2021. Half the total credit amount was paid in advance monthly payments over those six months of 2021.

You may want to wait to file your 2021 tax return until you receive Letter 6419 so that you can file an accurate return. Or you can check on the amount of payments you received on the IRS Child Tax Credit Update Portal Site.

For additional information please contact Gray, Gray & Gray at (781) 407-0300.

To view a sample IRS Letter 6419, click here.

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