Advance Child Tax Credit

The IRS has shared a fact sheet with tips for the Advance Child Tax Credit and filing the 2021 tax return. Heres what to keep in mind when you file:
Tax preparers and their clients should carefully read advance CTC letter 6419: To help eligible taxpayers, the IRS sent letters to payment recipients to help ensure tax returns are accurate.
Make sure you are filing an accurate return. People who file an accurate tax return electronically with direct deposit will generally see their refunds within 21 days after the filing is accepted by the IRS. Incorrect entries could lead to an extensive delay.
To ensure people accurately complete their 2021 tax return, use the advance Child Tax Credit information in your IRS Online Account beginning January 31. When in doubt about the amount, check IRS Online Account.
A limited group of taxpayers may receive an IRS letter with an incorrect amount of the payments received. Those in this small, affected group generally involve people who moved or changed bank accounts in December 2021, and their checks were returned as undeliverable, or their direct deposits were rejected. The IRS encourages anyone who thinks the letter might not be accurate to rely on the amount of payments reflected in their Online Account.

The Online Account link: https://www.irs.gov/payments/your-online-account

Leave a Reply