In January 2022, the IRS will send taxpayers a Letter 6419 to provide the total amount of advance Child Tax Credit payments that were disbursed to the taxpayer during 2021.
The IRS issued Advance Child Tax Credit payments to taxpayers during the 2021 tax year. These advance payments are pre-payments of an amount that would otherwise be refunded to you through filing your 2021 tax return. Because it is a pre-payment and not a separate credit, the amount you received in advance must be compared to what you should have received when filing your tax return.
This reconciliation process will require taxpayers to let their tax preparer know how much their advance child tax credit payments were each month. In order to assist with this, the IRS will issue IRS Letter 6419 before January 31, 2022. This letter will detail the dates and amounts of advance payments sent to the taxpayer. This letter should be given to your tax preparer so they can accurately reconcile the payments to the actual credit. By failing to have accurate reconciliation amounts, the taxpayer could receive a notice from the IRS which might delay processing their tax return/refund by several months.
