Tax Alert: Received a Letter from the IRS? Hold Onto It!
Jan 18, 2022
Most people dread getting a letter from the IRS, but in the case of these new informational letters, they could help your 2021 tax year return, so be sure to hold onto them! The IRS recently began sending information letters to recipients of the Advance Child Tax Credits (CTC) as well as the Economic Impact Payments (EIP). If you receive these letters (or any other IRS communication), please provide a copy to your CRI team as soon as possible.
IRS Letter 6419 (entitled 2021 Advance CTC) will include the total amount of advance child tax credit payments you received in 2021 and the number of qualifying children used to calculate the advance payments. IRS Letter 6475 (entitled Your Third Economic Impact Payment) will help recipients determine if they may be entitled to claim the recovery rebate credit.
These are brand new letters for the 2021 tax year, so you may initially think they are junk mail. The information in these letters will help us prepare your 2021 tax return and reduce errors and delays with the IRS. As always, should you have questions regarding your personal tax situation, please reach out to your CRI advisor.
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