Child tax advance checks. What y’all doing with them?

[copterzach]

2 kids at home. So the math is easy. First check I split between the kids saving accounts. The next one (today) I bought $400 in ammo from cheaper than dirt.

What’s everyone else doing with them


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[RCDave]

I got zippo. Nada. Ziltch.

Government discrimination at its finest

 

[CLdrinker]

Sitting on it.

 

[BingerFang]

Donating it to the Trump 2024 campaign!










Jk. I don’t have kids.

 

[RVRKID]

Well even though I have my son half the month I didn't see any of it. When we split I told my ex(Teacher) that as long as she provides health insurance for him she can claim him every year. I asked about using this money towards deductibles and braces down the line, we both haven't missed a day of work, and she said nope she gets it because insurance costs her more then the tax benefit. F*&^ing lying bitch, but not worth paying a lawyer to find out.

 

[Babyback]

I stopped payments…Thanks but no thanks

 

[warpt71]

Havent got one yet. In fact, I just got my fed return last week! I though about opting out, but my wife isnt working full time so I could use the extra right now. At this point, if something showed up it would be a bonus.

 

[HBCraig]

I wish. I haven't received squat

 

[sintax]

no kids, so apparently I just pay?

 

[CLdrinker]

Donating it to the Trump 2024 campaign!










Jk. I don’t have kids.

Stop using your fingers and you will!

 

[ka0tyk]

Rejected. You just end up having to pay it back as income. Dumb.

 

[Sleek-Jet]

Pissed that I'm getting them, how do you stop the checks?

 

[Groper]

Uhhh no, nope nada I'm over qualified to receive any hand outs "Child Tax Advance Checks" ?

However I do know very well how to write/send checks to the Federal Government

 

[Singleton]

Not eligible, but I get to pay another estimate

 

[farmo83]

Were having a kid in December so will just make the cut. We realized gains this year in the stock market so whatever we net out will just go to next years taxes.

 

[copterzach]

How do you opt out??


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[Ace in the Hole]

Opted out...I owe every year and I don't need to owe extra. People don't realize the tax implications on just blindly taking it.

 

[Ace in the Hole]

How do you opt out??


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too late now I think...there was a window I might be wrong though

Child Tax Credit Update Portal | Internal Revenue Service

The Child Tax Credit Update Portal is no longer available. You can no longer view or manage your advance Child Tax Credit Payments sent to you in 2021.

www.irs.gov

 

[spectra bash]

Went online and cancelled them. Only received the first one. Put it away.

 

[Yldboyz]

I'm afraid that I'm going to have to pay at the end of the year, I cancelled the payments.

 

[bowtiejunkie]

These should’t mess our Fed return too much. Probably bring the refund closer to zero. So, just throwing them in the checking to spending or invest.

what’s weird is IRS sent physical check for first payment, even though we received a refund electronically for 2020 (and prior years).

 

[Icky]

I was surprised when I saw this in my account, it wouldn't even buy a tank of gas these days

 

[Babyback]

too late now I think...there was a window I might be wrong though

Child Tax Credit Update Portal | Internal Revenue Service

The Child Tax Credit Update Portal is no longer available. You can no longer view or manage your advance Child Tax Credit Payments sent to you in 2021.

www.irs.gov

I think you can stop them at anytime…However there is a deadline each month to opt out before the next check arrives

 

[lbhsbz]

odd...I have a kid and haven"t received shit

 

[SkyDirtWaterguy]

You can use them to supplement the inflation caused by the Biden Administration handing out free money! I haven't received shit so thank all the hardworking people out there that are being taxed up the ass to provide the free money..It's called redistribution of wealth.

 

[azsunfun]

odd...I have a kid and haven"t received shit

cant claim your goats

 

[Ace in the Hole]

You can use them to supplement the inflation caused by the Biden Administration handing out free money! I haven't received shit so thank all the hardworking people out there that are being taxed up the ass to provide the free money..It's called redistribution of wealth.

It's actually called an advance on the already existing child tax credit....stupid bc a lot of low info voters are gonna be pissed next year that their "refund" is low.

 

[gqchris]

Go online and cancel that shit pronto. Why get something early to screw your taxes up later?

 

[SkyDirtWaterguy]

It's actually called an advance on the already existing child tax credit....stupid bc a lot of low info voters are gonna be pissed next year that their "refund" is low.

Stimulus money, child tax credit advance, whatever. It's fake money. The government giving it to you in the front pocket, while stealing it out of your back pocket. It's not helping the economy. If people want to fuck and have 10 kids that's on them not me! Don't make their problems mine. I have two kids I take care of and do not rely on the government tit to house, feed and educate them! All that is happening with this is kicking the can down the road.

 

[Done-it-again]

Got the first one (not sure about the second) and put in the kids bank account long with the other stimulus money that they received as well....

The tax code/laws are changing all the time... Once people find out they have to pay it back, and with the current admin they are going to let that happen? They will change it and the ones who opted out will get squat. Just my feeling... I'm done trying to be the do right guy... F'it , I'll stick my hand out and give it to my kids, who WILL need it later in life....

Did you hear Biden giving more fed money for food stamps now, 25% increase? Just saying.

 

[4Waters]

We opted out

 

[copterzach]

Got the first one (not sure about the second) and put in the kids bank account long with the other stimulus money that they received as well....

The tax code/laws are changing all the time... Once people find out they have to pay it back, and with the current admin they are going to let that happen? They will change it and the ones who opted out will get squat. Just my feeling... I'm done trying to be the do right guy... F'it , I'll stick my hand out and give it to my kids, who WILL need it later in life....

Did you hear Biden giving more fed money for food stamps now, 25% increase? Just saying.

I am with you. I pay the irs every year. Try to have enough write offs, but there’s only so shit you can buy


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[DoughBallin14]

Uh so far bought some toys and games for my 2.5 year old and the rest has gone into stocks at the moment haha

 

[Gonefishin5555]

People think everything is free. They are giving you your 2021 tax refund early. Probably better for most people to stop it and make sure they are entitled to the money when the file their taxes next yr.

 

[Tooms22]

Nothing, we don't get anything...

Because we don't have children and probably wouldn't qualify anyway.

This type of tax credit definitely makes me have no shame in my business write offs.

 

[Flying_Lavey]

It's actually called an advance on the already existing child tax credit....stupid bc a lot of low info voters are gonna be pissed next year that their "refund" is low.

People think everything is free. They are giving you your 2021 tax refund early. Probably better for most people to stop it and make sure they are entitled to the money when the file their taxes next yr.

You guys do realize they INCREASED the tax credit $1,600 (less for kids 7 and older) and are only paying $1,800 in advance payments right? So when all said and done, taxes SHOULD only change -$200 per kid versus the last couple years after Trump increased the Child Tax Credit from $1k to $2k. SO unless your withholdings are all outta whack (I'm not familiar enough with non W2 tax situations to have any opinion or input there), there shouldn't be too much of an impact to your yearly taxes at all

 

[gqchris]

Nothing, we don't get anything...

Because we don't have children and probably wouldn't qualify anyway.

This type of tax credit definitely makes me have no shame in my business write offs.

I am with you on that one, I havent received an ounce of "stimmy" since this shit started. I told my CPA to get very creative this year, or I am going to find a new one!

 

[crzy2bealive]

Opting out


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[Hydroman55]

I work hard for my money so get nothing.
You should all be ashamed to boast about this shit.
What is it that nobody understands, there will be hell to pay for trillions of dollars in free money.
I had no idea this site had this mentality!

 

[YeahYeah01]

Opted out as well.

Just a heads up. If your married, I'm pretty sure you both have to opt out.

 

[Sleek-Jet]

I work hard for my money so get nothing.
You should all be ashamed to boast about this shit.
What is it that nobody understands, there will be hell to pay for trillions of dollars in free money.
I had no idea this site had this mentality!

I don't see anyone boasting. Not like we had a choice here. I certainly didn't sign up for any stimulus and I certainly don't need it.

Our check is going in savings to pay for the inevitable tax bill I pay every year in April.

 

[Hydroman55]

I don't see anyone boasting. Not like we had a choice here. I certainly didn't sign up for any stimulus and I certainly don't need it.

Our check is going in savings to pay for the inevitable tax bill I pay every year in April.

Ammo and stock market gains?

 

[Sleek-Jet]

That was sarcasm... It is one of the services we provide for free.

 

[motormonkey]

We got it today. I'll take as much as they want to give. I like oweing them at end of year anyways to keep as much of my money as possible these days. And it's really not much anyhow..

 

[DRYHEAT]

The government giveith and the government takeith away.

If you think you can get something back from the wasteful government, I am all for it, but in the end they usually get it back. Enjoy the wealth transfer folks.

 

[Mandelon]

 

[motormonkey]

Just to be clear, the $250 we recieved isn't what's killing us.
It's going to be that trillions of dollars bullshit that's going to harpoon the dollar for good.

 

[petie6464]

Got me a sleeve if Wintergreen. . And had some change left over.

 

[Ace in the Hole]

You guys do realize they INCREASED the tax credit $1,600 (less for kids 7 and older) and are only paying $1,800 in advance payments right? So when all said and done, taxes SHOULD only change -$200 per kid versus the last couple years after Trump increased the Child Tax Credit from $1k to $2k. SO unless your withholdings are all outta whack (I'm not familiar enough with non W2 tax situations to have any opinion or input there), there shouldn't be too much of an impact to your yearly taxes at all

A significant number of us here are not in w2 situations. It's still an advance that a large chunk of people will owe back. I can assure you im well aware of the tax code...and its implications. I don't want any "advance" because ill just owe it back.

 

[Happy Smitty]

Yeah took that $ and spent it as quick as possible on gas for the boat and beer.