Child Tax Credit payment recipients should keep eye out for IRS letter

Money

MARYLAND – For Marylanders starting to gather documents for the 2021 tax year, Comptroller Peter Franchot is reminding those who received monthly advance Child Tax Credit (CTC) payments last year to be on the lookout for IRS letter 6419.

The IRS is sending out the letters to help taxpayers report their advance payments correctly. The letters will also help those people claim the remaining half of the CTC on their federal return. Comptroller Franchot says using the amounts in the IRS letter can help taxpayers file their returns faster, and avoid processing delays.

Changes to the CTC only affect federal taxes, not state returns. Comptroller Franchot says letter 6419 should show the total aggregate amount of advance CTC payments received in 2021, and the number of qualifying children taken into account to determine the advance CTC.

The letter also outlines how the IRS determined the payment amounts and repayment conditions. Anyone who received at least once CTC payment from July to December 2021 should expect one of those letters in the mail. Comptroller Franchot that’s even if payments were stopped at some point.

If you don’t receive a letter, taxpayers are encouraged to check payment amounts through the CTC Update Portal on the IRS website.

 

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