When Congress decided to expand and revolutionize the Child Tax Credit for parents under a certain income threshold, making it an advance payment of cash monthly for parents from July to December 15, so much good came out of the new Child Tax Credit program. Families literally were driven out of poverty — and were less stressed — and data shows that’s true.
There were six credit payments disbursed last year by the Internal Revenue Service, and while the outlook of continuing this groundbreaking anti-poverty program in at least a timely manner in 2022 is not so good, there is another payout coming even if you got monthly cash payments. But you need to look out for a letter, called the 6419, that contains important details. Here’s what you need to know.
What’s in the IRS Letter 6419?
Why do I need to keep this letter?
What if you didn’t get – or lost – that IRS letter?
The other part of your Child Tax Credit payments will come during tax time.
Will we see more Child Tax Credit payments in 2022?
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