DFW Multi Services

IRS Letters 6419 and 6475 for the Advance Child Tax Credit and Third Stimulus: What You Need to Know:
Letter 6419, 2021 Advance Child Tax Credit (CTC): If you received monthly CTC payments this past year, you should receive this letter from the IRS in January. If you filed as married filing jointly on your prior year tax return, then both you and your spouse will receive a Letter 6419.

You need both letters when filing your return as you will enter both amounts to be added to your tax return. This letter will have the total amount of advance Child Tax Credit payments you received from July 2021 to December 2021, and you will need that number when you file your taxes. Why? The IRS will use this number to help reconcile your advance Child Tax Credit payments – basically to make sure you got the right amount. If you should have gotten higher CTC monthly payments, you will get that additional money as part of your refund. If you received too much in CTC payments, you may owe that money back at tax time

Letter 6475, Your Third Economic Impact Payment: This letter will have the total amount of your stimulus payment in 2021 (just the third one, you received in 2021). If you didn’t get the full stimulus amount you were eligible for, then you may be able to claim those dollars through the Recovery Rebate Credit on your tax return. This letter has all the info you need to report the correct amount of the third stimulus you received and understand if you are eligible for additional stimulus dollars and how much.

The 2022 Tax Season Has Started.

The Internal Revenue Service starts accepting and processing 2021 tax returns on Monday, January 24, 2022.

At DFW Multi Services, LLC we are available and willing to assist you meet your tax filing requirements.

Give us a call: (682)344-1986 or (817)504-8252

www.dfwmultiservices.com