CTC letters may be wrong

[jklcpa]

Letters may be wrong especially if taxpayer has moved or changed bank accounts. The suggestion is to check the amounts in the letters with amounts on the new IRS revamped site.

https://www.accountingtoday.com/news/irs-child-tax-credit-letters-may-have-wrong-information?position=editorial_1&campaignname=V2_ACT_Daily_20210503-01262022&utm_source=newsletter&utm_medium=email&utm_campaign=V2_ACT_Daily_20210503%2B'-'%2B01262022&bt_ee=nOEDxhLpYf76%2BKr3%2B8RyP1pGdsv5fhS3Ipv9puUHWgt5zRDyEiZmOVMTXBQTTQhk&bt_ts=1643194964099

[Yardley CPA]

Thanks for the post, Judy.  Good information.

 

[joanmcq]

First one I’ve seen is in Spanish. And I have no idea why, tp speaks English. 

[Patrick Michael]

Maybe I'm missing something.  When I  go to the new IRS revamped site (https://www.childtaxcredit.gov/), I don't see anywhere where the client can get the amount of ACTC's.  Just two options, one to file and one to see if you're eligible.

[Abby Normal]

1 minute ago, Patrick Michael said:

Maybe I'm missing something.  When I  go to the new IRS revamped site (https://www.childtaxcredit.gov/), I don't see anywhere where the client can get the amount of ACTC's.  Just two options, one the file and one to see if you're eligible.

Same.

[SSP]

23 hours ago, Yardley CPA said:

Thanks for the post, Judy.  Good information.

 

 

[SSP]

Is the State of Arkansas unemployment EI information below still correct?

 

Arkansas   #71-6006690  PO BOX 2981, LITTLE ROCK, AR 72203-2981

[beckster2010]

It's pretty sad when we give the heads up to our client's and ask for their Notice #6419 and it's wrong.  Yesterday had a client load all his docs into my portal.  Based on the IRS info regarding the possibility that the notice is wrong, I emailed him asking him to verify the amount on the notice was the amount actually received in 2021.

Drum roll...…yes the amount was incorrect on the notice.  He has not moved or changed bank accounts. Sigh.

[JackieCPA]

9 hours ago, joanmcq said:

First one I’ve seen is in Spanish. And I have no idea why, tp speaks English. 

Did you check the back? Most have been first side english, backside spanish.

 

[jasdlm]

This is sad.  I just went online to 'test out' the website on myself.  Got to the point where it wanted me to upload copies of my DL (front and back), and it just spins and won't move forward.  Closed the browser and started over; no dice.

I have had random deposits in one of my money market accounts (not even my checking and nothing I've ever associated with the IRS) for varying amounts since August.  I have one 16 year old son.  It's a hot mess.

[jklcpa]

Now IRS says the new revamped site may also have incorrect information and taxpayers should check their online accounts at IRS instead.  Are we having fun yet?

Quote

"The Internal Revenue Service is urging people to use the information in their online taxpayer accounts for the most up-to-date figures on the amount of the advance Child Tax Credit to include on their tax returns, instead of the numbers stated in the letters it has been sending and in the revamped Child Tax Credit site it recently unveiled.

The up-to-date information will be available Monday, the IRS said in a fact sheet that it posted Friday. “Starting Monday, January 31, find the Advance Child Tax Credit payment information you need to file your 2021 tax return in your online account,” said the IRS. “Until then, use the amount in Letter 6419 sent by mail. Don’t use the payment details in the Child Tax Credit Portal.”

The IRS began hearing questions from reporters the day tax season started on Jan. 24 about why some of the letters the IRS had been sending to taxpayers who had received the monthly Child Tax Credit payments seemed to have incorrect amounts (see story). The IRS believes the inconsistencies are relatively limited and mostly apply to taxpayers who have changed addresses, and whose payments were undelivered, or where the direct deposit failed to work, perhaps because they changed bank accounts."

https://www.accountingtoday.com/news/irs-warns-child-tax-credit-portal-may-have-wrong-amounts?position=editorial_1&campaignname=V2_ACT_Daily_20210503-01312022&utm_source=newsletter&utm_medium=email&utm_campaign=V2_ACT_Daily_20210503%2B'-'%2B01312022&bt_ee=2GOgTsNx8qn%2B8evRGfWPbVxXjyjPLLtDUfxwhzRDbJ8%2Feney1jaHYrtGFFeZDbeQ&bt_ts=1643626946928