I thought the advance payment was only for the "additional" part of the child

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Jul 15, 2021
11:59:18am

Dangerous All-American

tax credit and didn't include the $2,000. That is what appears in many of the articles I've researched.

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Dangerous

Bio page: Dangerous
Joined: Aug 1, 2005
Last login: May 3, 2024
Total posts: 11,625 (85 FO)

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Messages

Author

Time

I just received a roughly $1,000 deposit for the Child tax credit. My income

Dangerous

7/15/21 11:55am

You actually made $101,000 but you inflated the number bc it’s cb.

cougsareforreal

7/15/21 11:56am

The phase out starts at $150k? So you still got partial amounts

Kajdin

7/15/21 11:56am

AGI?

Turnpike Lane

7/15/21 11:56am

Holy crap. $200k? What do you do?

TNT

7/15/21 11:56am

Cb mod training program

DodgerMike

7/15/21 11:58am

explanation: the government is being run by morons

rotorhead

7/15/21 11:57am

You have 4 kids & received an advanced payment on your $2k child tax credit.

RdF3

7/15/21 11:57am

I thought the advance payment was only for the "additional" part of the child

Dangerous

7/15/21 11:59am

Nope, you'll still get monthly payments (50%) unless oyu opt out.

rggee

7/15/21 12:00pm

OK - thanks for the info. Looks like I'll need to adjust my withholdings as

Dangerous

7/15/21 12:01pm

You can still opt out for the remaining payments, if you'd like.

rggee

7/15/21 1:27pm

Same here. But then I’ve heard of this happening & the advance happening on the base credit too.

RdF3

7/15/21 12:00pm

You'll get the normal child tax credit of $2000 per kid. Half of that will be

rggee

7/15/21 11:58am

the more kids you have the higher income you need to phase it all out

Cougforgood

7/15/21 11:59am

Phaseout for MFJ starts at 150k, but doesn’t completely phase out until

BigD Coug

7/15/21 11:59am

I’d like to opt out…but the IRS website sucks

byuguns55

7/15/21 12:18pm

Perfect humble brag opportunity. Well done 👏🏻

LaVellIfIKnow

7/15/21 12:20pm

It was actually a legitimate question....

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