The IRS is sending Letter 6475 to millions of taxpayers this month related to the 2021 stimulus check. Here's what to do with it.
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Stimulus checks are not taxable, but they still need to be reported on 2021 tax returns, which need to be filed this spring. Additionally, many families have received or will receive another letter about the 2021 child tax credit payments. Labeled Letter 6419, it will include crucial information about the CTC payments, such as how much your family received in advance and how many qualifying children the monthly deposits were based on.
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