2022-4: IRS Advance Child Tax Credit letters may not be accurate - Spidell

2022-4: IRS Advance Child Tax Credit letters may not be accurate


We’ve heard from numerous tax professionals that the Letters 6419 that the IRS is sending out to taxpayers summarizing the amounts of Advance Child Tax Credit payments sent to them are not reporting accurate amounts.

We recommend that tax professionals verify with their clients that the amounts reported on Letter 6419 are accurate. If they appear inaccurate, the amounts should be verified by pulling the taxpayer’s transcript, going to the Child Tax Credit Update Portal (www.irs.gov/credits-deductions/child-tax-credit-update-portal), or looking at the amounts actually deposited into the taxpayer’s bank account. These latter options show the accurate amounts and will be the amounts used by the IRS in any type of audit.

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