IRS Letters On Way To Child Tax Credit Recipients
The Internal Revenue Service is issuing letters to Advance Child Tax Credit recipients in New Mexico to prepare them for tax season and the third round of Economic Impact Payments.
The IRS letters will be issued into late January to help taxpayers reconcile and receive all the Child Tax Credits they are entitled.
The letters will include the total amount of advance Child Tax Credit they are entitled and the total amount the taxpayer has received.
The numbers will be needed asw anyone who received advance payments will have to declare so on their 2021 income tax forms.
The IRS says recipients should hold onto the forms since any Child Tax Credit given in January will have to be declared next year when taxpayers are filing their 2022 taxes.
As tax time approaches the IRS is reminding everyone to take care when filing to avoid inaccuracies, and to use electronic filing with direct deposit for any refund to avoid any delays.