No, the IRS has a record of the payments they sent out for the advance child tax credit (ACTC) and if you have your child on your return, then they will automatically calculate any additional amount you should have. Do nothing at this time.
If you do need to amend your return, for either the child tax credit (CTC) or the earned income credit (EIC) you must wait until your original return is fully processed. The amended return will not be available until March 17m, 2022, and will be eligible for e-file.
- A transaction code 420 means that the return was pulled for a potential audit. The return will then be reviewed and may or may not necessarily be assigned for audit (in person or through correspondence.)
- All you can do is wait ... they will either process the return OR you will get a letter to respond to.
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