The IRS announced yesterday that taxpayers who received the advanced child credit should review their Year end letter 6419 closely to ensure it matches the actual amounts received. The 6419 letters are required to be presented for tax preparation beginning with 2021 taxes. Please read the below article for more information.



IRS Warns Of Inaccuracies In Advance Child Tax Credit Letters

Admitting that they expect another chaos-filled filing season, Treasury and the IRS have been vehement (almost rabid) about encouraging taxpayers to file their 2021 tax returns electronically. They have also been encouraging taxpayers who received advance payments of the Child Tax Credit (CTC) to watch for Letter 6419, which reports the amount of the credit that was paid in advance and which is necessary to reconcile the full CTC on Form 1040.

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Sincerely,

Steve

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