IRS Mistake Could Cost You Big
Be on high alert.
An important letter which was sent to child tax credit recipients to figure out how much money the IRS owed them possibly had incorrect information.
According to Fox, the IRS recently announced that they are investigating reports of errors made in the Letter 6419 which had the wrong dollar amount parents received through the boosted child tax credit.
This error could be very serious for some Americans because “because at least half of the enhanced credit will be paid out as a lump sum when parents receive their 2021 tax return.”
It is recommended that people who received the letter keep it so they can reconcile the credit they already received when filing their taxes.
Fox further explained, “The information is pertinent to determining how much more money families receive from the credit when they fill out Schedule 8812 and Form 1040.”
