- The IRS Released a New Tool That Will Allow Taxpayers to Receive Monthly Child Tax Credit Payments Faster.
- Eligible American families must use the tool by August 30.
- The new feature aims to avoid delays in postage.
The Internal Revenue Service (IRS) has launched a new tool that will allow some eligible families to receive their monthly child tax credit payments of up to $ 300 much faster, starting with the next payment in September.
In a release issued this Friday, August 20, the IRS indicated that the new feature “allows any family receiving child tax credit payments to quickly and easily update their mailing address through the Child Tax Credit Update Portal, found exclusively on IRS.gov.”
Tool enables faster child tax credit payments
The new feature aims to avoid postal delivery delays or even prevent a paper check from being returned due to failure to deliver. “Any family you can easily receive your September check and all future checks mailed to your new address by using the portal to make an address change request, ”the IRS said.
For the change to take effect with the September child tax credit payment, individuals must complete the application by midnight ET on Monday, August 30. “Families can still make changes after that date, but their request will not be effective until the next scheduled monthly payment,” the agency said.
Any change that is made regarding a person’s postal address using the IRS Child Tax Credit Update Portal will be the same for all subsequent communications and money transfers from the tax agency, reported The Sun.
The address change feature can also be useful for taxpayers receiving direct deposit payments, as the IRS plans to mail a year-end statement (Letter 6419) to each taxpayer who has received advance payments from the Credit. child tax for 2021 and having a current address on file with the IRS will ensure prompt delivery of this statement.
Change the way you receive money
The address change function joins a growing suite of services available through the Child Tax Credit Update Portal. The new tool allows families to verify their eligibility for payments either to switch from receiving a paper check to direct deposit, to change the account where their payment is deposited directly, or even to stop monthly payments for the remainder of 2021.
Any of these changes made before midnight ET on August 30 will apply to the September 15 payment and all subsequent monthly payments scheduled for October 15, November 15 and December 15. To access the new IRS tool click HERE.
IRS confirms ‘essential’ requirement to get remainder of check for children
Letter of the Child Tax Credit will be the essential requirement to obtain the rest of the check for children. The US Internal Revenue Service announced the letter that will be necessary to claim the rest of the Tax Credit in 2021.
The IRS announced through a release, which will trigger the updated postal address to send all correspondence to taxpayers, among the documents that will be sent is a letter called 6419, which will be of utmost importance for families.
IRS will send Child Tax Credit Letter
The agency will send by mail a summary year-end statement in letter 6419 to all taxpayers who have benefited from the advance payments of the Child Tax Credit during this 2021 with relevant information for the next year.
According to the statement distributed by the Internal Revenue Service, “families will need Letter 6419 to quickly and accurately complete their 2021 federal income tax return next year.”
They inform what the Child Tax Credit Letter will be for
“This is important because, for most families, the advances they receive during 2021 cover only half of the total credit,” the IRS said in the aforementioned statement. It is worth mentioning that families are receiving payments of between $ 300 and $ 250 dollars on a monthly basis with this credit.
IRS letter 6419 will serve for American families to claim the remaining portion of the Child Tax Credit on their 2021 tax return and thus obtain 100% of the benefit to which they are entitled, as established in the American Rescue Plan.
Child Tax Credit Letter 6419 will allow you to get extra help
The IRS alerted families to the possibility of changing their postal address using the Child Tax Credit Update Portal, in order to ensure that they receive all the necessary information for their next return.
“The Internal Revenue Service has launched a new feature that allows any family receiving monthly Child Tax Credit payments to quickly and easily update their mailing address using the Child Tax Credit Update Portal, found exclusively on the IRS. gov, “says the statement.
New features for the Child Tax Credit
In addition, this new feature “will help any family that chooses to receive their payment by paper check to avoid delays in mailing or even having a check returned for being undeliverable,” the IRS noted in the announcement.
Families can easily get their check for children in September and the following months at the new address by using the portal to request the change of address. The IRS gave a deadline to implement this change and avoid delays.
Alert about changes in payments
“For the change to take effect in September, individuals must complete the application before midnight Eastern time on Monday, August 30,” the US Internal Revenue Service revealed in the aforementioned statement.
The IRS said families can still make changes after that date, however later applications will not be valid for the September Child Tax Credit until the next few months.
“The change of address function joins a growing suite of services available through the Child Tax Credit Update Portal. Available only on IRS.gov, the portal already allows families to verify their eligibility for payments, ”the IRS recalled.
The portal also offers the options to switch from receiving a paper check to direct deposit, changing the account where your payment is deposited, or stopping monthly Child Tax Credit payments for the remainder of 2021, however, it sent a warning of make these changes.
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