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First child tax credit payments have been sent

Posted on 7/15/21 at 5:07 am
Posted by pioneerbasketball
Team Bunchie
Member since Oct 2005
132344 posts
Posted on 7/15/21 at 5:07 am
Anybody else love this president
Posted by burke985
UGANDA
Member since Aug 2011
24616 posts
Posted on 7/15/21 at 5:11 am to
Bringing kids out of poverty one at a time, that 250 is life changing
Posted by IT_Dawg
Georgia
Member since Oct 2012
21792 posts
Posted on 7/15/21 at 5:28 am to
My buddies on a group text brag about getting it. They’ve already spent the money on shite that is not for their kids. I can’t say anything cause I’m a bad guy for making more than the cutoff. They are really good friends so I don’t say anything, but it’s frickery how warped their minds are about this

ETA: oh, every one of them has the same job they had with same pay as before the pandemic as well….
This post was edited on 7/15/21 at 5:31 am
Posted by RiseUpATL
Member since Sep 2018
2214 posts
Posted on 7/15/21 at 5:31 am to
I honestly can’t wait to see folks who don’t understand taxes lose their minds in April when their “refund” is half of what is usually is. These aren’t free money payments. It’s an advance of a credit they were going to get anyways. Would have been the same under Trump so this isn’t free money. It’s an argument whether Trump would have advanced it, but it’s not costing taxpayers anything. I actually like it because rather than letting the government hold the money from taxpayers until next year, they have to give us the money now interest free. Also, as a reminder it’s based on 2021 AGI so anyone that made less than 150K MFJ in 2020 (on which these are based in terms of eligibility) but stand to make more than that in 2021 you’ll have to pay some of it back. I’d still take it because it’s an interest free advance from the GOV and pay it back April.
Posted by the808bass
The Lou
Member since Oct 2012
111519 posts
Posted on 7/15/21 at 5:41 am to
quote:

Would have been the same under Trump so this isn’t free money.


I’m pretty sure the amount has increased significantly.
Posted by IT_Dawg
Georgia
Member since Oct 2012
21792 posts
Posted on 7/15/21 at 5:43 am to
Yea, no one is thinking of it this way. But to be fair, they increased the CTC from $2000 to $3600 for this year only and the payments for next 6 months are half the $3600….so not a huge difference ( ~$200) of what they can expect on returns from previous years.

Unless these families go over the $150,000 then they will have to pay some/all of it back
Posted by DaTruth7
Member since Apr 2020
3811 posts
Posted on 7/15/21 at 5:47 am to
Let's combat inflation by sending out more money. What could go wrong?
This post was edited on 7/15/21 at 6:14 am
Posted by DreauxB2015
Member since Nov 2015
7723 posts
Posted on 7/15/21 at 5:52 am to
prepping your dumb arse for universal basic income and you dont even know it .Hit us back when your unemployed and your only income is from the Government.
Posted by MeatCleaverWeaver
Member since Oct 2013
22175 posts
Posted on 7/15/21 at 5:59 am to
Now tell us about the inflation under “this President*.”
This post was edited on 7/15/21 at 5:59 am
Posted by haikarate
Member since May 2011
1515 posts
Posted on 7/15/21 at 6:04 am to
Is this the IRS TREAS 310? We opted out of the tax credit thing.
Posted by DMAN1968
Member since Apr 2019
10145 posts
Posted on 7/15/21 at 6:37 am to
quote:

they have to give us the money now interest free

Us?

Who is this "us"?
Posted by Houag80
Member since Jul 2019
9172 posts
Posted on 7/15/21 at 6:39 am to
Get new friends. That is disgusting.
Posted by udtiger
Over your left shoulder
Member since Nov 2006
98775 posts
Posted on 7/15/21 at 6:45 am to
quote:

I honestly can’t wait to see folks who don’t understand taxes lose their minds in April when their “refund” is half of what is usually is


I am sure the same people that routinely lose their shite in airports and restaurants will take this event with a similar degree of aplomb.
Posted by pioneerbasketball
Team Bunchie
Member since Oct 2005
132344 posts
Posted on 7/15/21 at 6:45 am to
Group text
Posted by JCdawg
Member since Sep 2014
7807 posts
Posted on 7/15/21 at 6:45 am to
(no message)
This post was edited on 9/22/21 at 10:03 am
Posted by GeauxGutsy
Member since Jul 2017
4716 posts
Posted on 7/15/21 at 6:52 am to
I predict an uptick in police presence at strip mall fast taxes offices first quarter of 2022.
Posted by Dawgfanman
Member since Jun 2015
22353 posts
Posted on 7/15/21 at 6:53 am to
quote:

Officially the first day of communism.


Dude we had advanced tax credits long before this…
Posted by Tigerfan1274
Member since May 2019
3141 posts
Posted on 7/15/21 at 7:04 am to
Need help from the Poli Board. Got got the credit last night. Our AGI last year was over $180K when we filed this year. It will likely be over $200K this year. Am I completed screwed at Tax Time? I owed money this year. Can I opt out of this stupid thing?
Posted by seawolf06
NH
Member since Oct 2007
8159 posts
Posted on 7/15/21 at 7:04 am to
quote:

I honestly can’t wait to see folks who don’t understand taxes lose their minds in April when their “refund” is half of what is usually is.


What you don't realize is that they also increased the size of the credit substantially, so many will also receive a larger refund next year.
Posted by Jake88
Member since Apr 2005
68226 posts
Posted on 7/15/21 at 7:09 am to
It is supposed to cut off at 170,000k.
This post was edited on 7/15/21 at 7:10 am
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