This past year, many Americans were able to take advantage of the monthly child tax credit payments to help with the economic fallout of COVID-19. Anyone that has gotten those monthly payments, will be now getting a letter in the mail from the IRS that includes all the details about the payments that you got in the second half of the year. Sometimes, these letters have mistakes in them that should be fixed. Mark Dicus & Company is here talk about what you need to do when there are mistakes in your CTC letter.
What People are Most Likely to Get Inaccurate Child Tax Credit Letters
The IRS is admitting that there are some letters that are being sent out with mistakes on them. They have also told us which people are more than likely to have problems with their CTC letters. If you have changed bank accounts during December of 2021, there may be mistakes on your CTC letter. Also, those that moved to a new address in December of 2021 are seeing mistakes in their letters as well.
How You Can Find the Accurate Information You Need
If you suspect that there is a mistake on your CTC letter, the best way to find the right information that you need is to log into your IRS account. You will then be able to compare that information with the bank records that you have. When you have information that is different from the information that the IRS has, you will find that your tax return could be delayed because the IRS has flagged it. This is why it is always in your best interest to ensure the information that you have is completely accurate.
How to File if You Didn’t Get Your December Payment
It can be frustrating when your CTC letter says you got a payment when you never got it. If this is the case, you will need to contact the IRS so that they can look into things for you. You can see if there was any payment that was returned on your online account. If you don’t find the information that you need, you will need to contact them by phone to sort it all out. When the IRS has determined that your payment was returned or is missing, you won’t be responsible for including it on your tax return. Making sure that the information on your tax return is accurate will help you avoid problems getting your tax return in a timely manner.
Tax Preparation, Filing & More in Summerlin, North LV, Henderson, Lone Mountain Village & Greater Las Vegas, Nevada
If you have questions about how to file your taxes with the child tax credit payments you got this year, you can call on Mark Dicus & Company to help ensure you have all of the information correct on your return before you file. We have the experience needed to ensure your taxes are done right, and that you’re taking advantage of all deductions that are available to you. Call us today!