tax tips — January 05, 2022

Look Out for IRS Letters on 2021 COVID Relief

by Susannah McQuitty

envelope graphic

Between late December 2021 and the end of January 2022, the IRS is sending letters to help taxpayers accurately report COVID-19 relief on their 2021 tax return.

If you received the third stimulus payment (also known as EIP3) or any Child Tax Credit payments between July and December of 2021, you should keep an eye out for Letter 6475 or Letter 6419 from the IRS.

What does IRS Letter 6475 mean for my third stimulus payment?

Letter 6475 lists the amount of your third stimulus payment delivered by the IRS in 2021. Having this info will help you figure out if you should claim the Recovery Rebate Credit (and how much to claim, if so).

The letter includes information on any plus-up payments, too. Plus-up payments were sent to those who did receive an EIP3, but didn’t get the full amount because their stimulus payment was initially based on outdated information (a 2019 tax return, info from government benefits, etc.).

While most taxpayers should have the correct EIP3 amount now, Letter 6475 lists the amount you have been sent in 2021—if it’s still not as much as you qualify for, you can claim the Recovery Rebate Credit.

Okay, but is that hard to do?

Not a chance. When you file with 1040.com, we calculate what you qualify for as you answer simple questions about yourself and your finances. Once you fill in the info from your Letter 6475, we’ll calculate your Recovery Rebate Credit in the background.

Just another way you can feel good about getting your maximum tax breaks with the simplest process.

What does IRS Letter 6419 mean for my early Child Tax Credit payments?

Letter 6419 details how much of the Child Tax Credit (CTC) you received in advance in 2021 and how many qualifying children those payments were based on.

Just like with the stimulus payment, Letter 6419 helps you quickly and easily determine how much of the CTC you should receive when you file your taxes.

Qualify for the CTC but didn’t get any payments in 2021? No worries—you’ll get the full credit when you file your tax return.

Plus, our easy walkthrough is just as simple with your CTC as your EIP3. We’ll take the info from your Letter 6419 and calculate how much of the credit is left for you to claim on your taxes.

Do I have to file the IRS letter with my taxes?

In both cases, the IRS letters don’t have to be included on your tax return. They are simply helpful and accurate records of your payments from the past year, which makes filing your taxes easier (no chasing down bank statements to see when you got your payments!).

Do I even really need IRS letters 6475 and 6419 to file my taxes?

You certainly need to keep any letters received for your records, and the amounts received need to match what you put on your 2021 tax return. Having these official documents makes accurate information much easier to access.

While you could probably calculate those amounts on your own, using the letters themselves reduces the risk of mismatched info, which would likely cause long, drawn-out delays. If you lose your letters, you can find the necessary information by using an Online Account (for Letter 6475) or the CTC Portal (for Letter 6419).

Get ready to feel good about taxes with 1040.com

It’s officially our favorite time of the year, which means you can log in and get started on your tax return with us. We know the last year has been all over the map, but we’re here to make sure you feel good about your taxes just the same.

Ready to have at it? Sign up or log back in, and let’s do this thing.

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