The writers of the Taxpayer Advocate Service have made available for download their article, “Caution: Married filing joint taxpayers need to combine advance Child Tax Credit payment totals from IRS letters when filing”, which focuses on Advance Child Tax Credit. The abstract is as follows:
A word of caution to all married parents filing a joint return for tax year 2021 who received advance Child Tax Credit (CTC) payments in 2021: you must combine the total amounts shown in box 1 of both IRS Letters 6419 when you file your federal income tax return this year.
If you claimed married filing joint status on the tax return which the IRS used to calculate your advance payments (2020, or 2019 if your 2020 tax return was not processed when this calculation was made), and you will be filing a joint tax return for 2021, you and your spouse will receive a separate Letter 6419, even if you have the same address. The total advance payment amount shown on each letter is one half of the total issued to you collectively.
Click here to view the full summary of “Caution: Married filing joint taxpayers need to combine advance Child Tax Credit payment totals from IRS letters when filing”.
Posted by Isabella King, Associate Editor, Wealth Strategies Journal.