AVOID LENGTHY REFUND AND PROCESSING DELAYS IN 2022
Individuals and families who received advance Child Tax Credit payments and/or Economic Impact Payments (EIP) in 2021 will soon be receiving two letters from the IRS. Married persons will receive individual letters.
-Letter 6419 will provide recipients with the total advance Child Tax Credit received last year and the number of qualifying children used to calculate the payment amount.
-Letter 6475 will provide recipients with the total Economic Impact Payments (EIP) received in 2021.
These letters include important tax information to figure the Child Tax Credit and Economic Impact Payments on your 2021 tax return. Please give your tax preparer a copy.
Advance Child Tax Credits and Economic Impact
Payments are nontaxable.
IT IS IMPERITIVE THAT THE ADVANCE CHILD TAX CREDIT PAYMENTS BE REPORTED CORRECTLY ON THE TAX RETURN IN ORDER TO AVOID LENGTHY DELAYS AND/OR MANUAL PROCESSING.