Taxpayers have been confused by letters recently sent out by the IRS, thinking they’re a scam. The letters are legit, however, and worth keeping, as they could help you get money related to the recovery rebate tax credit claimed in your 2020 tax return.
What are these IRS letters exactly?
They’re related to 2020 stimulus payments. For most people, the rebate was already paid out through the first two COVD-relief stimulus checks, but you’re also able to claim these funds when filing your 2020 taxes (for more on how to qualify, click here).
The first batch of letters (CP 11, CP 12 , or CP 13) explains that the IRS has processed the recipient’s 2020 tax return and found errors (income, status of dependents) that have changed the calculations for their recovery rebate. This means you could be owed more money, owe nothing, or even owe money on your taxes (although in this case, this has to do with your…