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IRS Warns Letter 6419 May Contain Incorrect Information About Child Tax Credits

IRS Warns Letter 6419 May Contain Incorrect Information About Child Tax Credits
Ines Zemelman, EA
27 January 2022

This tax season many taxpayers should expect to receive letters 6419 & letter 6475 - however, during a conference call on Monday, Jan 24, the IRS indicated that letter 6419 may contain inaccurate information for many taxpayers.  

Unclear how many taxpayers will receive erroneous letters

The IRS said it is unclear how many people received or will receive letters with incorrect information. However, they indicated they do not believe that is not a widespread problem.

New IRS portal to see updated information 

Taxpayers can now use the IRS Child Tax Credit Update Portal to view payment history and verify that a check has been mailed to you or that you have received direct deposits.

The IRS has rolled out an additional verification process to access their portals - see IRS Requires New ID System to Access Online Accounts

According to the IRS, the information in the portal is the most up-to-date and accurate information that you should provide your tax preparer.

How to identify IRS payments in your bank statements

If you received direct deposits from the IRS, each deposit will contain a code within the description. Based on the code, you can see for which IRS credit it was for (2021 Child Tax Credit payment, Economic Impact Payment, or tax refund).

  • IRS TREAS 310 CHILDCTC: This is a 2021 Child Tax Credit payment that may have been received monthly between July and December.
  • IRS TREAS 310 TAXEIP3: This is an up to $1,400 per person Economic Impact Payment provided by the American Rescue Plan.
  • IRS TREAS 310 TAX REF: This is a tax refund. You may have received this after your tax return was processed. Some individuals also received a payment from the IRS with this code as a result of tax relief provided for unemployment earnings in the American Rescue Plan.
Ines Zemelman, EA
Founder of TFX