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Child Tax Credit 2021: Here's when the fifth check will deposit
CBS News ^ | November 12, 2021 | BY AIMEE PICCHI

Posted on 11/12/2021 11:23:59 AM PST by Oldeconomybuyer

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To: Flick Lives
That’s the part that seems to be glossed over. Is this a true credit or simply reallocating what one’s tax filing credit would have been over 12 months?

Yes. It is a true credit, and it spread half of the credit over six months end of this year. So for each kid, usually you file a credit of $2000, and it came off your total tax due when you filed.

This time, however, they bumped the amount to $3M, or $3600 for kids under *six* (I think). And, to make themselves look better, they gave half your credit in advance, monthly, the last six months this year. So a single child is $250 payments for six months, then a $1500 'payment' -tax credit- come April.

Either way you should get the same amount, except the advance payments let you potentially earn money on your money sooner. If gov (or anyone) is giving you a set amount of money, always get it sooner rather than later!
21 posted on 11/12/2021 2:46:41 PM PST by Svartalfiar
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To: Oldeconomybuyer

Many are only some months recieving these checks, some not at all.


22 posted on 11/12/2021 3:26:50 PM PST by QuigleyDU ( )
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To: Oldeconomybuyer

And the media blames the labor shortage on COVID...


23 posted on 11/12/2021 3:27:59 PM PST by Rebelbase (Were State Dept. Havana Syndrome victims the guinea pigs of 5G/graphene oxide "vaccine" tests?)
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To: ctdonath2

I send in estimated payments and already discounted the amount I’d have to pay when the jeniuses decided they’d mail us the checks. Because the mail is so reliable.

I was able to stop mine from coming but not Mrs. Flash’s.

We got nothing in July; an amount in August which made it appear that we would get the whole sum over five months, then a bigger check in September, and an even bigger one in October. I have no idea what the government is doing.

I am going to wait until I have all of them, then deposit them at once and simultaneously write a check to the government for the same amount. Because it’s NOT free money.


24 posted on 11/12/2021 3:31:48 PM PST by Flash Bazbeaux
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To: Flick Lives

They increased the credit from the Trump $2000, to $3000, so it’s $1000 more per kid. Then they decided to start mailing out the WHOLE credit, not just the $1000 increase. They call the WHOLE thing the “Biden” credit, even though 2/3 of it was the amount under Trump, which itself was a big increase from what it had been before Trump.


25 posted on 11/12/2021 3:34:54 PM PST by Flash Bazbeaux
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To: Oldeconomybuyer

The feds are sending monthly child care credits instead of a big, fat check at tax refund season. Wait until that big, fat check doesn’t show up in April because it’s been sent monthly. The howling will be ear-splitting.


26 posted on 11/12/2021 5:12:56 PM PST by sergeantdave (Federal courts no longer have any standing in America. )
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