The IRS will be sending out two letters to taxpayers:

  • Letter 6419 – Advance Child Tax Credit Payments
  • Letter 6475 – Economic Impact (stimulus) Payment

It is important to retain these letters for your tax return. Do not throw them away. Entering incorrect advance child tax credit or economic impact payment amounts will cause delays in tax return processing and the issuance of refunds. Retaining these letters and providing them to your accountant is important to ensure the accuracy of your tax return.

Please contact your Somerset advisor at 317.472.2200 or with any questions.