What you need to know ahead of filing taxes if you benefitted from the Advanced Child Tax Credit
Financial expert says it is critical you find the 6419 letter in the mail from the IRS.
ROCKFORD, Ill. (WIFR) - Tax filing season starts Monday. If you were eligible for the Advanced Child Tax Credit for the past six months, there are a few things you need to know ahead of filing your taxes.
According to Herb Allen of Mainstreet Financial, you should have received a 6419 letter in the mail from the IRS. The letter tells you how much money the IRS believes you received. If you were eligible, but did not receive the checks every month, this is your chance to correct it, he said. Allen added, if you lost the letter, you should call 1-800-908-4184.
“If you don’t respond to the letter, that will put your tax return way up the back. We’re talking after next Christmas,” said Allen. “The way you continue to get the balance due, and for those folks who didn’t want the monthly payments, they’re entitled to the full 3000 or 3600.”
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