Advance Child Tax Credit Payments and Economic Impact (Stimulus) Payment
By John Uhrynowski, Supervisor, Tax & Business Services
In anticipation of the 2021 tax return filing season, which is just around the corner, the IRS will be sending taxpayers two letters in January 2022 as follows:
- Letter 6419 – Advance Child Tax Credit Payments
For most families, the advance payments received in 2021 covered only half of the total credit. Any remaining portion of the credit should be claimed on the 2021 tax return.
- Letter 6475 – Economic Impact (Stimulus) Payment
This includes the total amount of the third economic impact payment and any plus-up payments received.
These IRS letters should be retained by taxpayers and provided for tax return preparation.