Did you receive CP79(CTC Denial Letter)?

This is denial letter for Child Tax Credit or Additional Child Tax Credit or Credit for Other Dependent 

• If the IRS examines a taxpayer's return and disallows all or part of an EITC, AOTC, CTC/ACTC, ODC or Head of Household claim on a return, the taxpayer: 
• Must pay back the amount in error with interest, 
• May need to file Form 8862, Information To Claim Certain Credits After Disallowance 
• Cannot claim the credit for the next two years if the IRS determines the error is because of reckless or intentional disregard of the rules, or 
• Cannot claim the credits for the next ten years if the IRS determines the error is because of fraud. 

Refer https://www.irs.gov/individuals/understanding-your-cp79-notice. Let us know, if you need any help.

Understanding Your CP79 Notice | Internal Revenue Service POPULAR FORMS & INSTRUCTIONS; Form 1040; Individual Tax Return Form 1040 Instructions; Instructions for Form 1040 Form W-9; Request for Taxpayer Identification Number (TIN) and Certification www.irs.gov

IRS updates Tax Year 2021 / Filing Season 2022 Child Tax Credit Frequently Asked Questions, information to help taxpayers prepare their 2021 returns

IRS Updated FAQ on Child Tax Credit for filing season 2022. These Frequently Asked Questions are helpful to determine taxpayer eligibility.  Refer to below URL for more information 

https://www.irs.gov/pub/taxpros/fs-2022-28.pdf

Reliance on FAQs 2020 to $3,600 in 2021 for each child under age 6. Similarly, for each child age 6 to 16, it's increased from $2,000 to $3,000. It also provides the $3,000 credit for 17-year-olds. www.irs.gov

#CTC # ChildTaxCredit.

Thanks

Surya Padhi

Sure Financials and Tax Services LLC

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