If you moved recently, here’s why you should tell the IRS, not just USPS

If you moved recently, here’s why you should tell the IRS, not just USPS

Did you move within the last year or are you planning on changing your address soon? If so, there’s one more item to add to your to-do list: Update your address with both the IRS and USPS. We’ll explain why forgetting to do this can potentially cause you to miss out on thousands of dollars — and we’ll walk you through how to do it.

Receiving your mail at your new residence is one important reason to change your address — but there are several other reasons not to delay. The expanded child tax credit and stimulus check payments this year are two important reasons. Since not all post offices forward government checks, you’ll need to notify both the USPS and the IRS if you’ve relocated.

Just a heads up: Tax Day is May 17, leaving you with one week to file before the deadline and to claim this IRS tax refund money from 2017 before it disappears forever. We can also tell you what we know about a fourth stimulus checkhow to get a $50 discount on your internet bill and how to get $16,000 back in child care expenses. This story was recently updated.

Reason No. 1: Child tax credit payments begin in July 

The new child tax credit payments will start going out to those who are eligible in July and arrive monthly through December (and then again next spring) — calculate your payment here. If you don’t have direct deposit set up with the IRS, your payments will likely arrive as paper checks.

However, if you’ve moved recently and you haven’t updated your information with the IRS or USPS, it’s likely your check could wind up at your old address, potentially causing a delay as you wait for your check to be rerouted. But you’ll soon be able to update any incorrect information when the IRS opens a portal designed specifically for the revised child tax credit — it’s expected to open by July...Read more>>

Source:-cnet

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