Child Tax Credit: If the IRS Sent You Letter 6550, H&R Block Wants to Help


If you are one of the nine million Americans who receive a letter from the Internal Revenue Service (IRS) regarding eligibility for unclaimed tax credits, you will need to act quickly. Fortunately, H&R Block wants help taxpayers navigate the process.

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The so-called 6550 letters mean that IRS records show you may qualify for one or more of the credits expanded by the American Rescue Plan Act for 2021, including the Recovery Rebate Credit, Child Tax Credit and the Earned income tax creditexplained the IRS on its website.

To claim the credit, you must file a tax return. The extended deadline for doing so electronically to claim the credit ends Nov. 17, 2022, H&R Block said in a statement. Press release.

For the child tax credit, the amount can reach $3,600 for each eligible child aged 5 and under; up to $3,000 for each qualifying child ages 6 to 17, according to the IRS. “You may have received up to half of this amount in monthly payments in 2021. You must file a tax return to receive the rest,” the IRS noted on its website.

H&R Block said taxpayers can get help from a tax professional online or in person to navigate the 2021 tax filing process and access credits.

In terms of income eligibility, all qualifying families can receive the full credit if they earned up to $150,000 for a married couple or $112,500 for a single parent in 2021, according to the government. Child tax credit website.

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This credit is not taxable and will not affect or reduce other federal benefits.

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