Child Tax Credit (CTC) payments or otherwise known as the letter 6419 is an IRS document that specifies the monthly advance child tax credit amount received which is necessary to file for your tax return. Sometimes, these letters can be incorrect which can pose to be a problem while filing your returns.
Reasons Why Letter 6419 Being Incorrect
The IRS child tax credit problems can arise if there are incorrect payment amounts mentioned in the letter. The reasons for these could be:
- You have recently moved to a new address
- You have changed your bank account
- Your payment got undelivered
If you are a married couple who have filed jointly, you might also notice a discrepancy in your Letter 6419. As per the IRS, the letter shows only half the advance payment received for each person. You will need to combine the amount with your spouses’ letter while filing your joint returns.
Resolving Incorrect Payment Amount Issues
There is no need to panic if your Letter 6419 shows the wrong amount. There are many ways in which you can resolve these issues:
- Checking the IRS portal that shows the records of all the payments sent to you
- You can try calling the number shared in the Letter 6419
If the payment shown in the IRS portal matches the payment that you have received, you can use this information to file your returns. If the payment made by the IRS was not credited to your bank account, you can exclude that claim and file for the balance tax returns. Ensure that the IRS portal is updated with the right amount.
If the IRS shows an incorrect payment that differs from the one you need to get, you can still file your tax returns with the amount that you believe is correct. The additional step required here would be to validate your payment with the right bank statements.
In case of doubt, you can consult credible tax professionals. They are experts who might be able to figure out the root cause of this issue.