The Internal Revenue Service (IRS) issued millions of copies of letter 6419 to parents who received Child Tax Credit checks last fiscal year. On the other hand, the agency has stated that some of those Letters 6419 may include out-of-date information.
Taxpayers should watch out for Letter 6419
According to Forbes, Treasury and the IRS have been urging taxpayers to file their 2021 tax returns electronically, while expecting another chaotic filing season. To reconcile the complete CTC on Form 1040, taxpayers who received advance payments of the Child Tax Credit should look for Letter 6419, which reports the amount paid in advance.
Taxpayers who received Letters 6419 in December received incorrect information, according to the Internal Revenue Service, which has recognized the error. Due to a printing and mailing error in December, the letters were printed and mailed in January, but the December advance payment was rejected either by the financial institution or by the postal service.
The Internal Revenue Service is also aware that the letters sent to taxpayers who alternate custody of their children every other year may be erroneous.
What to do if the taxpayer received the wrong letter?
According to Marca, log into your account on the IRS website, and you will be able to check whether or not the information you entered is correct to be used on your tax returns. In addition, the Biden Administration created a new website on Monday with the goal of assisting eligible families that qualify for the extended CTC in claiming the second half of their payments.
Unfortunately, the problem may not be resolved by correcting the previously identified faults. Social media is becoming increasingly popular among tax professionals, who are reporting problems on Letter 6419 that are not attributable to returned payments or custody arrangements.
Indeed, some of the erroneous letters are being received by members of the taxation profession themselves.