So...so many people have been asking what is this letter I keep hearing about IRS 6419. Here are some of the questions I am hearing and here are some of the answers that I want you to know :)
What is IRS Letter 6419?
This Letter should be looked at like a Tax Form. It is a form that will show how much of the Child Tax Credit you received in Advance in 2021. Example: If you have one child under the age of 6 at the end of 2021 you would be entitled to $3600 for the Child Tax Credit. The IRS began advancing $300 a month in July of 2020. So you could have been ADVANCED (this was not an additional credit..it was designed to be an ADVANCED payment for what you would receive on your 2021 Tax Return) $300 a month for July, August, September, October, November and December for a total advance of $1800. The letter would explain that you received $1800 in advance.
2. When should I receive this letter?
The Internal Revenue Service will begin sending out this letter in January 2022. They have not issued a specific date, but it should be received by 1/21/22.
3. Is there a place I can go online to get the letter so that I do not have to wait to get it in the mail?
If you do not currently have an IRS account you can go to https://api.id.me/en/registration/new and set up a new account and there should be the information available inside of the account.
If you do have an account you can go to . https://api.id.me/en/session/new and login with your username and password.
4. Can I file my 2021 Tax Return without this letter.
The technical answer is no. Just like any other form like a W-2, 1099 SSA, 1099-NEC, or 1099-INT you need to have the 6419 in order to file. (this is why it is accessible on the online account)
5. Can my Tax Preparer help me obtain this 6419.
This is up to your Tax Preparer. In our agency we will do everything we can to help you! Even if you are not a member of our current Accounting Family, we will direct and help you as much as possible.
6. Where can I go to read more information on this Topic.