Dunning check: updates on IRS letter 6475, child tax credit, tax refund

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The Internal Revenue Service (IRS) said the “6475” letter, which refers to the third wave of stimulus checks, will begin to be mailed.

According to reports, around 36 million households are likely to receive the letter, which will help decide whether the recovery refund credit can be claimed on the 2021 tax return.

Stimulus checks must be claimed when filing taxes in 2022

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Letter 6475 will be sent to recipients at the end of January, informing them of the value of the stimulus checks they received during the previous fiscal year. Save this letter from the IRS as you will need it when you begin to complete your 2021 federal return.

According to the IRS, letter 6475 relates only to the third round of stimulus checks, which began in March 2021 and will end in December 2021.

Although the deadline for filing your 2021 tax returns is April 18, 2022, the sooner you file, the sooner you can receive a tax refund. Last year, the average tax refund was over $2,800.

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The IRS expects the majority of taxpayers to get a tax refund – if they are entitled to it – within 21 days of filing an electronic return, with the suggestion being to avoid filing a paper return if possible.

It is crucial to note that the IRS is not authorized by law to issue tax refunds, including earned income tax credit or additional child tax credit until mid -February, but you can still submit your return from January 24.

The difference between the Dependent Child Care Credit and earlier stimulus checks is that the government requires you to apply for it. The government will not send checks unintentionally.

The IRS says the child tax check is given to households with children to cover a portion of expenses. He hopes this will be enough to help the adults in the household cover the expenses of finding a job. The $1.9T stimulus bill, passed in early 2021, allows $1,400 stimulus checks to be distributed.

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