Are You Planning on Relocating Shortly? You Should Notify the Internal Revenue Service and the United States Postal Service for Four Reasons:
There are a few activities you’ll need to add to your to-do list if you’re intending to move soon — or if you’ve already moved. You may have forgotten to forward your mail through the US Postal Service or to notify the IRS of your new address while unpacking and settling into your new home.
You may miss out on money and vital letters if you don’t update your information with both organizations, such as Letter 6419 about the child tax credit or Letter 6475 about missing stimulus money. If you only tell the USPS, not all post offices will forward government checks, therefore you must also notify the IRS.
The following are some of the reasons why you should change your address as soon as possible. Also, here’s the latest on whether or not the child tax credit will be renewed. This article has just been updated.
1. To ensure that your final child tax credit payment in 2021 isn’t postponed
The increased monthly child tax credit payments ceased in December; you can figure out how much you owe here. Your payments were most likely sent as paper checks if you didn’t have direct deposit set up with the IRS. However, if you’re still waiting for a child tax credit check despite the fact that you’re eligible, a mistaken address could be the issue. You can check the status of your payment or create a payment trace to verify if it was delivered to the wrong address.
If you’ve just moved and haven’t changed your information with the IRS or the USPS, your money may have been sent to your old address, causing a delay as you wait for your check to be rerouted. To ensure that your payment is distributed to the correct location, you can still alter your mailing address using the Child Tax Credit Update Portal.
2. So you can finally obtain the stimulus check that you’ve been looking for.
Last year, stimulus checks were sent as new payments or plus-up payments if the IRS owed you more than it had already paid. The payments will be made until the end of 2021. Some states even mailed additional stimulus cheques that you would have missed if your address had not been corrected.
Furthermore, if you are ineligible for stimulus funds, the procedure of claiming it is linked to your tax return. If you don’t sign up for a direct deposit and get a tax refund this year, you’ll get a paper check from the US Treasury, which may arrive at an old address. Even if you have a direct deposit account with the government on file, you may still receive a stimulus check in the form of a paper check or an EIP card. This IRS tracking tool might assist you in determining how you will get your stimulus funds. The IRS and the Treasury have the final word in how you receive your money once the IRS has processed your payment.
You’ll also want to make sure you receive the IRS letter confirming that your payment was received. This is critical information for anyone who may be qualified for a stimulus check but is experiencing a delay in receiving their funds. If it comes down to it, this IRS notification will be your ticket to resolving any problems or filing a claim for missing funds during tax season this year.
3. So you can collect your tax refund from the previous year
If you filed your taxes late last year and are awaiting a refund in the mail, double-check that the information you provided on your tax return is right.
It’s easy to forget new address information, especially if you use a tax software application that saves your information for convenient filing. Make sure you notify the USPS if you change your address in the tax filing system.
4. So that you can get your tax return and refund for this year.
If you plan to move after you file your taxes, make sure you update your information in the system before the deadline. Your tax refund will be free of errors and delays as a result of this.
If you elect not to use the child tax credit in 2021, your payments will be connected to your tax refund this year. You don’t want to miss out on a $3,600 payment for each child. You might potentially claim another $16,000 as a tax deduction this year for whatever child care expenses you paid last year.
How to notify the IRS of a change of address
It’s time to notify the IRS of your new address after you’ve completed your change of address with USPS (see procedures below). It’s important to keep in mind that the IRS can take up to six weeks to process your change of residence. Here are some alternatives for you.
When filing your 2021 tax return, use your new address. Your new address will be updated in the IRS’s database, according to the IRS. You can still claim your stimulus payment as a Recovery Rebate Credit on your taxes this year if you aren’t obligated to file taxes and haven’t received it yet.
If you don’t list your new address on your tax return, you can fill out Form 8822 to notify the IRS of the change.
Give the IRS your entire name, old and new addresses, Social Security number, individual taxpayer identification number or employer identification number, and signature in writing “the address where you filed your previous return.” You can also do this over the phone, according to the IRS, but it may require more information.
How to use the USPS to forward your letter
It’s critical to forward your mail when you move so that you don’t miss any vital paperwork, such as a stimulus check. This is how you do it.
- Go to usps.com/move and fill out the form.
- Fill up the form with your contact information, the date you want the mail to start forwarding, and the old and new addresses. When you’re ready to go on, double-check everything and click Next.
- Finally, you must select a payment method. Each time you forward your mailing address, it costs $1.10. It’s worth noting that you can’t do this with a prepaid credit or debit card. (Here’s some more information on the subject.)
- You’ll receive an email confirmation that your change of address has been filed once you’ve paid.
- In the mail, you should receive a USPS Confirmation Notification Letter and a welcome packet at your new home. According to the USPS, it can take anywhere from three to two weeks before you begin receiving your forwarded mail.