Recipients of Advanced Child Tax Credit Payments Should Watch Out for IRS Letter
Monthly payments will affect only federal taxes, not state returns
ANNAPOLIS, Md. (January 10, 2022) – As Marylanders begin to gather documents for the 2021 tax year, Comptroller Peter Franchot reminds those who received monthly advance Child Tax Credit (CTC) payments last year to be on the lookout for IRS letter 6419.
The Internal Revenue Service is sending out this important notice to help taxpayers report their advance payments correctly and so they can claim the remaining half of the CTC on their federal return. Using the amounts in the IRS letter can help taxpayers quickly file tax returns and avoid processing delays that impact refund payments.
Changes to the Child Tax Credit were part of the American Rescue Plan and affects only your federal taxes, not your state tax return.
The letter 6419 is the official IRS document that has details needed to report the advanced CTC payments. This letter will show:
The total aggregate amount of advance CTC payments received in 2021. This information will be used on IRS schedule 8812, lines 14f or 15e, as applicable.
The number of qualifying children taken into account in determining the advanced CTC.
In addition to the details above, the letter 6419 outlines how the IRS determined the payment amounts and the conditions of repayment.
Anyone who received at least one advance Child Tax Credit payment from July to December 2021 will receive a 6419 letter even if payments were stopped at some point.
For more information about the 2021 Child Tax Credit, visit www.IRS.gov/advctc.