Tax season 2022: what you need to know

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According to USA todayanyone who received the child tax credit must file a Schedule 8812 to claim any additional credit to which they may be entitled.

For many households, they should be looking to receive additional funds for the Child Tax Credit, as the Advance Tax Credit was designed to be only half of what is due to them.

Between July and December of last year, those who qualified received the Advance Child Tax Credit of between $1,500 and $18,000 per child, depending on the age of the child. So you could be looking at receiving an additional $1,500 to $1,800 per child once you file a 2021 federal income tax return.

Be very careful when listing how much money you received in 2021 on schedule 8812, USA today noted, otherwise your refund may be delayed. Also keep an eye out for an IRS form, Letter 6419, which will be needed to account for money you received last year and what is owed to you when you return.

A married couple filing a joint return will receive not one but two 6419 letters this year, according to april walker, senior tax practice and ethics officer for the American Institute of CPAs, told the outlet. These two letters will have to be taken into account and entered on annex 8812.

Walker suggested looking at bank accounts and comparing them to what the letter shows you received last year. If something is wrong, it could be an error on the part of the IRS. Don’t just put your number in, Walker said. “If you put a different amount in there, that’s going to signal the return,” Walker added.

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