$5,000 cash can be claimed as advance payments, IRS Letter 6419, & income limit explored

A ‘STIMULUS’ payout worth $5,000 is available to eligible parents of newborn babies, while parents nationwide wait for IRS letters to claim child tax credits on their 2021 taxes. Many households have already received IRS Letter 6419 from the Internal Revenue Service, which lists the exact amount each family received through the expanded Child Tax Credit. The $5,000 “stimulus” is the culmination of two tax credits in the $1.9trillion aid package President Joe Biden signed into law in 2021. Andy Phillips, director at the Tax Institute at H&R Block, told Local 12 that parents who meet eligibility requirements would receive… Read Full Article