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wiffleball

The advanced child tax credit

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4 minutes ago, Hardcore troubadour said:

Last year the CTC was 2000 per kid. Now it’s 3000, and they are giving you 1500 up front. So yeah, it’s 500 dollars less in credit at tax time per kid. I’m not geek club rich but that amount won’t “screw” me. Nor should it anyone else. Just save November’s and December’s payment and you’re  fine. I should t have said doubled. My analysis is still accurate. 

I think you're right.  I don't think anyone is gping to get killed here--if there were there would be way moe media coverage to make sure Joe DumbAzz knew what to do.  But there will be those that whine like they just lost their first born

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6 minutes ago, Hardcore troubadour said:

Last year the CTC was 2000 per kid. Now it’s 3000, and they are giving you 1500 up front. So yeah, it’s 500 dollars less in credit at tax time per kid. I’m not geek club rich but that amount won’t “screw” me. Nor should it anyone else. Just save November’s and December’s payment and you’re  fine. I should t have said doubled. My analysis is still accurate. 

I think the cutoff is less though... From 400k to 100something.... So maybe?

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8 minutes ago, Hardcore troubadour said:

Last year the CTC was 2000 per kid. Now it’s 3000, and they are giving you 1500 up front. So yeah, it’s 500 dollars less in credit at tax time per kid. I’m not geek club rich but that amount won’t “screw” me. Nor should it anyone else. Just save November’s and December’s payment and you’re  fine. I should t have said doubled. My analysis is still accurate. 

The payment is based on 2020 tax year, a covid year, where many made a lot less. If a family makes more than $150,000 this year but not last....screwed.  As some have said, many don’t want it paid early.

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I don't think it's about families getting "killed" but more of the not understanding that they are getting some of this up front. Come tax time, they will see that they only get HALF...and then they will freak. 

I can see how there might be a small percentage of families that are affected, but others will likely more be upset that they didn't realize it's an "advance." 

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16 minutes ago, TheNewGirl said:

I don't think it's about families getting "killed" but more of the not understanding that they are getting some of this up front. Come tax time, they will see that they only get HALF...and then they will freak. 

I can see how there might be a small percentage of families that are affected, but others will likely more be upset that they didn't realize it's an "advance." 

So its gonna be a huge uptick in crime in a couple years..

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1 hour ago, Alias Detective said:

The payment is based on 2020 tax year, a covid year, where many made a lot less. If a family makes more than $150,000 this year but not last....screwed.  As some have said, many don’t want it paid early.

Are you saying people that don’t pay taxes will not get this entitlement?

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48 minutes ago, Baker Boy said:

Are you saying people that don’t pay taxes will not get this entitlement?

If they filed taxes in 2020 and have dependent children regardless if they net pay in or not.

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The people who will be screwed are the poor people who use taxes as a forced savings account. These people often have multiple children and get thousands back. 

Your going to see the b1tching from people who got back 4k all of sudden getting 2k

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1 hour ago, Cdub100 said:

The people who will be screwed are the poor people who use taxes as a forced savings account. These people often have multiple children and get thousands back. 

Your going to see the b1tching from people who got back 4k all of sudden getting 2k

Good. Let them be pissed at Biden 

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1 minute ago, Hardcore troubadour said:

Good. Let them be pissed at Biden 

I agree. Unfortunately, I've learned liberals can't make that next step.

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https://www.usatoday.com/story/money/2021/07/31/child-tax-credit-stimulus-cash-check/5437500001/
 

@wiffleball is an idiot.

Did you know, for example, that some people will be stuck paying back the money next year if they received more than they're actually qualified to get each month from July through December? Others could be looking at a much smaller tax refund than they might typically expect.

We could hear from a lot of angry taxpayers once the 2022 tax filing season begins when those expecting extra-large tax refunds end up with a much smaller payout — or even owe money. 

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4 minutes ago, Alias Detective said:

https://www.usatoday.com/story/money/2021/07/31/child-tax-credit-stimulus-cash-check/5437500001/
 

@wiffleball is an idiot.

Did you know, for example, that some people will be stuck paying back the money next year if they received more than they're actually qualified to get each month from July through December? Others could be looking at a much smaller tax refund than they might typically expect.

We could hear from a lot of angry taxpayers once the 2022 tax filing season begins when those expecting extra-large tax refunds end up with a much smaller payout — or even owe money. 

I mean, you're stating the obvious. But they are effectively skyrocketing the credit. And making it fully deductible, which is a concept  most of you don't really seem to understand. But it's huge. Yeah if you received more than you should, you're going to owe money. Stating the obvious. But most won't. And if you're going to? It's easy to fix.

 

I mean Jesus man. It's not that hard. IRS even has calculators to figure out what you'll receive and what you'll owe.

 

So whatever. I'm not getting Commission on this. Educate yourself or don't.

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"Did you know, for example, that some people will be stuck paying back the money next year if they received more than they're actually qualified to get each month from July through December? "

 

oh My God! Is this some sneaky new libruhl trick,? 

 

(see, bush drumpf...)

 

lol

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10 hours ago, wiffleball said:

"Did you know, for example, that some people will be stuck paying back the money next year if they received more than they're actually qualified to get each month from July through December? "

 

oh My God! Is this some sneaky new libruhl trick,? 

 

(see, bush drumpf...)

 

lol

We could hear from a lot of angry liberals once the 2022tax filing season begins when those expecting extra-large tax refunds end up with a much smaller payout.

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Here's an excerpt of a new instruction video which teaches children to start breeding early in order to get that sweet sweet govt cash!!!  (Also serves as a stripper/wh0re vocational video.)

 

 

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3 minutes ago, DonS said:

Here's an excerpt of a new instruction video which teaches children to start breeding early in order to get that sweet sweet govt cash!!!  (Also serves as a stripper/wh0re vocational video.)

 

 

Inate

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Still haven't received my payment...

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1 hour ago, Cdub100 said:

Still haven't received my payment...

Is it August 13 already?

CHILD TAX CREDIT PAYMENT UNENROLLMENT DATES

Payment month Unenrollment deadline Payment date
July June 28 July 15
August Aug. 2 Aug. 13
September Aug. 30 Sept. 15
October Oct. 4 Oct. 15
November Nov. 1 Nov. 15
December Nov. 29 Dec. 15

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1 hour ago, posty said:

Is it August 13 already?

CHILD TAX CREDIT PAYMENT UNENROLLMENT DATES

Payment month Unenrollment deadline Payment date
July June 28 July 15
August Aug. 2 Aug. 13
September Aug. 30 Sept. 15
October Oct. 4 Oct. 15
November Nov. 1 Nov. 15
December Nov. 29 Dec. 15

No, but it's well past July 15th.

Guess I don't get it...

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1 minute ago, Cdub100 said:

No, but it's well past July 15th.

Guess I don't get it...

Oh good point...

Yeah I would assume that if you haven't gotten one now for July, you aren't going to get it...

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1 hour ago, posty said:

Oh good point...

Yeah I would assume that if you haven't gotten one now for July, you aren't going to get it...

There's a couple really easy-to-use tools out there to find out. IRS.gov

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On 7/22/2021 at 6:45 PM, Cdub100 said:

The people who will be screwed are the poor people who use taxes as a forced savings account. These people often have multiple children and get thousands back. 

Your going to see the b1tching from people who got back 4k all of sudden getting 2k

Bump

The b1tching has started. :lol:

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If the democrats just do what Manchin asks, then they can still give it to most of the people they think need it. But they want to use it as a hammer to get all the other bad ideas through.  They are so FOS. They could make a deal by this afternoon if they are so worried that people will starve if they don’t get it. They would rather watch them starve then lose their other BS no one wants. 

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On 7/15/2021 at 7:30 AM, Alias Detective said:

1/2

 

and then the bottom dweller liberals will cry when they get a smaller refund when they file next year.  Anyone want to bet?

.

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On 7/14/2021 at 9:12 PM, wiffleball said:

In a matter of hours, substantial payments are going to start hitting the accounts of ultimately 40 million American families. This is huge folks, but nobody's talking about it.  Tomorrow and for at least the rest of the year and most likely for the rest of 2023 as well. 

 

There's a girl that I work with at Catholic charities. She's fixing to get $850 tomorrow. She didn't know that until I told her yesterday. Then I told her she was going to get it for the rest of the year and maybe for the next year

 

and oh by the way? She's still entitled to around $5,000 in tax credit, (not exemption, credit) meaning refund files for taxes in 4/23.  Congress very quietly made the entire amount refundable. It wasn't in the past. 

 

This girl makes 12 bucks an hour. Three young ones ranging from one to 16. That's rent guys. That's a difference between homelessness, and, Not.  

 

Short version? $300 for kids under six. $250 kids up to 17. Head of household? Like a single mom? Make less than 112,000 a year. Married? 150,000 a year.

 

And it's not a bright line test. If your income exceeds that? The credit gets reduced, not eliminated.

 

Didn't file tax returns in the past? That's okay, the IRS built a tool for that.

Spent the entire day yesterday on my day off making sure family-centric shelters/programs  knew the above. And it was amazing how  few actually did. 

 

This is real; it's not saving millionaires tens of thousands. - that most would just defer to savings / deferred gains anyway.  It's actual money that will end up getting pumped back into the economy. And keep  a hell of a lot of people out of homelessness and poverty.

 

I'm actually pretty jazzed about it. It's a pretty cool thing. And I think the real world impact is going to be Noticeable soon.


So are you in favor of socialism?

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