Henry Multiservice Taxes

Henry Multiservice Taxes

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01/07/2025

TAX SEASON IS HERE
BLESSINGS FOR ALL

09/29/2024
01/23/2023

Blessings for all
Tax season 2023
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01/17/2022

GOOD IS GOD
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Thursday 20th
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01/10/2022

PLEASE READ:

Child tax credit: Be sure to save this letter from the IRS
If you received advance child tax credit payments in 2021, you'll need this IRS letter to get the rest of your money in time
Katie Teague
IRS Letter 6419 is an important tax document for the child tax credit.
In 2021, half of the expanded child tax credit payments were disbursed in advance by the IRS. As tax season approaches, it's time for recipients to get the rest of their child tax credit money with their 2021 tax return. In order to receive that money, you'll need to be on the lookout for a letter from the IRS with important information about your child tax credit.

The IRS started mailing the first of these important letters in late December and said that more letters would be sent throughout January. The agency is urging you to hold on to the notice as you'll need it when you file your 2021 taxes.

We'll explain what the letter contains and why you shouldn't throw it away. For more information, here's everything to know about the upcoming child tax credit payment. Also, here's what to do if you're having issues with a missing payment.

Child tax credit: Everything we know

What's included in the IRS letter?
The IRS letter -- called Letter 6419 -- has important information that can help you when you prepare your taxes. The notice will show how much child tax credit money you received in 2021 and the number of qualifying dependents used to calculate your total amount.

You'll need to cross-check the information to make sure it's still correct. For example, if you had a baby since you last filed your taxes, the IRS wouldn't have counted that dependent when determining how much money you're eligible for. Therefore, you'll need to make sure your information is updated when you file your tax return.

What if you don't get a letter from the IRS?
If you haven't received a letter yet, keep an eye on your mailbox because the IRS is still working to send them out. However, if you still haven't received a notice by the time you're ready to file your taxes, there could be an issue -- for instance, maybe you moved and the agency doesn't have your current mailing address yet.

If you don't receive a letter by the time you need to prepare your return, you'll need to either use the online child tax credit portals to confirm your information or contact the IRS directly via mail or by phone at 1-800-829-1040. If you contact the IRS via mail, expect at least 30 days for a response.

What if you lost or threw away Letter 6419?
Of course, the IRS urges everyone not to throw away Letter 6419, since it's necessary for confirming the amount of advance child tax credit payments and the number and ages of your children. If you did accidentally dispose of it or lose letter 6419, don't panic -- your child tax credit information will be available via the child tax credit portals on the IRS website.

Registering for an account on the IRS site takes a bit of time and patience, but once you're in, you will have all the necessary information for the child tax credit, along with other useful IRS information for preparing your taxes.
The amount of child tax credit money you get depends on a number of things.
How much child tax credit money will you get with your tax refund?
The amount of child tax credit money you receive with your tax refund depends on a number of things. For instance, if you opted out of receiving the monthly payments last year, the amount of money you get will be larger than someone who received every check. The monthly checks were for up to $300 for children 5 and younger, and up to $250 for kids 6 and older.

So if you were eligible for the full amount and opted out of the payments, you could get up to $3,600 per child with your tax refund. However, if you received all six payments in 2021, you could get up to $1,800 per child, depending on the ages of your children.

If you're still waiting on a payment to arrive due to an IRS error, that should also arrive with your tax refund.

For more information, here's how to contact the IRS with child tax credit questions. Also, you could be eligible for up to $16,000 if you paid for child care last year.

01/09/2022

BLESSINGS FOR ALL
Tax season is around the corner just getting ready for another successful Tax year
Are you?

01/18/2021

Hi, PLEASE MAKE NOTE

Feb. 22 is the projected date when the IRS refund tracker will start showing information on refund status for people claiming the Earned Income Tax Credit and the additional child tax credit. (By law, the IRS can’t release these refunds until the middle of the month because of a review period to spot bogus claims and potential identity theft.)
The first week in March is when refunds claiming these credits will start hitting accounts.
in another words please don't expect your refund till the end of march.

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