RE: I just got a $695 advance child tax credit payment. Is this dependent on

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Jul 22, 2021
10:27:07am

mycketchicken Walk-on

RE: I just got a $695 advance child tax credit payment. Is this dependent on

If your AGI (single) is <75k, you qualify. If filing jointly, it’s <150k. It starts to phase out after that

Child tax credit FAQ: Payment schedule, opt out deadlines and more

Not sure when to expect your next child tax credit payment? We've got you covered.

https://www.cnet.com/personal-finance/taxes/child-tax-credit-faq-payment-schedule-opt-out-deadlines-and-more/

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mycketchicken

Bio page: mycketchicken
Joined: Jul 22, 2021
Last login: Sep 20, 2021
Total posts: 14 (0 FO)

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Messages

Author

Time

I just got a $695 advance child tax credit payment. Is this dependent on income?

Iman23

7/22/21 10:21am

Can’t rally send it back. You need to opt out of payments though.

ThreatLevelMidnight

7/22/21 10:23am

My recommendation is to put it into a separate account labeled "future taxes" and earn $1.25 interest. Before you pay it

7/22/21 10:24am

RE: I just got a $695 advance child tax credit payment. Is this dependent on

mycketchicken

7/22/21 10:27am

Yes, there are phaseouts on income. If you think you won't qualify based on

rggee

7/22/21 10:30am

I filed my taxes this year, and I didn’t bother opting out

JOPE

7/22/21 10:33am

Your income isn't likely high enough to phase out of the normal 2k per kid (it's

rggee

7/22/21 10:35am

Yes, I did the math in my head and it looks like they’re just a giving me my

JOPE

7/22/21 10:36am

Same boat. Don't think I qualify but got my $700 check mailed this week.

camp_chef

7/22/21 10:36am

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