![]() The IRS letter - called Letter 6419 - has important information that can help you when you prepare your taxes. ![]() Also, learn if you might have to pay back child tax credit money and what to do if you're having issues with a missing payment. Read on to learn what the letter includes, how to report it and what to do if you don't have it.įor more information, here's everything to know about possible child tax credit payments in 2022. If you never received IRS Letter 6419 or you lost it, don't panic. Parents need to report the official amount of payments they received in 2021 to get the rest of the credit with their tax refund. These IRS letters were mailed in December and January to families who received advance monthly payments. To get that money, however, parents need IRS Letter 6419, 2021 advance CTC. Now it's time for families to claim the remaining money on their 2021 tax returns. The change to the child tax credit also instituted monthly advance payments up to $300 for each child from July to December 2021, giving parents an early $1,800 per child. Last year's American Rescue Plan expanded the child tax credit significantly, raising the amount of money that eligible parents can receive from a previous level of $2,000 per child up to $3,600 for each kid under 6 or $3,000 for children 6 to 17. This story is part of Taxes 2022, CNET's coverage of the best tax software and everything else you need to get your return filed quickly, accurately and on-time.
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