If you are an advanced Child Tax Credit recipient, you most likely received a previously issued Letter 6419. The Internal Revenue Service mailed out letters to the recipients of the Advance Child Tax Credit as well as the third round of Economic Impact Payments that were made in January 2021.
This letter included the total amount of credits paid to recipients. These advanced Child Tax Credit letters were sent between December of 2021 to January of 2022.
Child Tax Credit payments were sent out on a monthly basis beginning June 15, 2021 and were calculated based on the information from your previous tax returns. This letter specifying what was paid to you is helpful as it explains if you received too much or too little for the credit.
If you received too much credit, you will be responsible for repaying the overage. If paid too little or didn’t receive the credit at all, you can claim the amount due to you on your tax return..
Also sent in late January was Letter 6475, “Your Third Economic Impact Payment”. This letter was sent out to Economic Impact Payment recipients. The third round of the EIP was sent out starting in March of 2021. These payments were calculated based on information from prior returns.
If you have questions on these letters that were previously mailed, we recommend contacting your tax professional for more information! You can also visit IRS.gov for more information about the advance Child Tax Credit and Economic Impact Payments.