I am hearing all kinds of rumblings about issues with getting the correct number for the Advanced Child Tax Credit. If you are at all in doubt about knowing exactly how much you got, I strongly recommend you check your IRS account to find the exact number. It's a lengthy process so it needs to be done BEFORE your tax appt. Here is how to set that up and do it:
How do I sign up for an ID.me account? “Tax preparer” cannot assist with the setup of ID.me accounts. Before you get started with ID.me, you'll need the following:
How to Access your Advance Child Tax Credit and Economic Impact Payment (#3) Information from your IRS Online Account Advanced Child Tax Credit Payment Information · Once logged into your IRS Online Account, select Tax Records from the menu at the top of the screen. · You will see a section on this screen labeled Advance Child Tax Credit Payments with a link to the Update Portal. Click on this link · Toward the bottom of the screen under the Payments Section, click on the plus sign next to Processed Payments. All payments that you received should be listed here. Please print a copy of this screen to provide to us. Economic Impact Payment 3 (EIP 3) Payment Information · Once logged into your IRS Online Account, select Tax Records from the menu at the top of the screen. · Toward the bottom of the screen under the Economic Impact Payment Information section, click on the plus sign next to 2021. All payments that you received should be listed here. Please print a copy of this screen to provide to us. If you disagree with any of the information provided on these screens, we recommend printing a 2021 account transcript. This can be done via the following steps: · From your online account homepage, select Tax Records from the top menu · Click on the blue box labeled Get Transcript · Select reason for needing a transcript. You can choose any of these that you like, · On the next screen, choose the 2021 Account Transcript at the bottom left of the screen. This will have the details on any payments made to you for the 2021 tax year. Can’t create or login to an IRS Online account? You can still have a transcript mailed to you. · From the IRS website (www.irs.gov) select the icon for Get Your Tax Record · On the next screen, Scroll down to the area discussing Alternative to Requesting a Transcript Online. · There is a link here to Get a Transcript by Mail. Once clicking on this link, you will need to provide your Name, Social Security #, Address and Zip Code used on your most recent tax return. You will also need to select that you would like a 2021 Account Transcript. Once this information is entered, it takes 5-10 days to receive the transcript. · You can also request a transcript by calling the IRS automated transcript request line at 1-800-908-9946. You will need the same information as listed above (Name, Social Security #, Address and Zip Code to request the transcript using this method |
AuthorJennifer your friendly neighborhood tax preparer Archives
December 2023
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