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Government check arrived today what the ****
- Thread starter wildbill1973z28
- Start date
It isn’t just child tax credits, it’s unemployment tax refunds as well…
TLDR version:
The American Rescue Plan allowed taxpayers to exclude up to $10,200 in unemployment benefits from their Adjusted Gross Income.
Because of that, taxpayers didn't have to pay taxes on that income, but the legislation took effect after many filed returns and paid that tax, which is why the IRS is now having to give refunds.
https://www.wfmynews2.com/article/news/local/2-wants-to-know/irs-46-million-taxpayers-get-a-refund-this-week-for-unemployment-overpayments-the-money-is-due-to-the-agi-being-adjusted-american-rescue-plan/83-a10edbb7-37db-4763-bd1d-27b069b2acce#:~:text=The refunds will begin by,should file an amended return.
TLDR version:
The American Rescue Plan allowed taxpayers to exclude up to $10,200 in unemployment benefits from their Adjusted Gross Income.
Because of that, taxpayers didn't have to pay taxes on that income, but the legislation took effect after many filed returns and paid that tax, which is why the IRS is now having to give refunds.
https://www.wfmynews2.com/article/news/local/2-wants-to-know/irs-46-million-taxpayers-get-a-refund-this-week-for-unemployment-overpayments-the-money-is-due-to-the-agi-being-adjusted-american-rescue-plan/83-a10edbb7-37db-4763-bd1d-27b069b2acce#:~:text=The refunds will begin by,should file an amended return.
And lose it all to the buy here pay here scam man because even if the money is “free” they still can’t manage it.
When the commodity lines were around government cheese was high quality. Now that we band aid laziness with a check gubmint cheese leaves a bitter taste in my mouth.
It is an advance of the credit that everyone normally receives, but when you file your taxes next year you will only get half credit. so if the credit offsets the balance and keeps you from owing normally, next year you will owe. It really is the same as how you file during the year in a way, if you file multiple dependents, and have less taxes taken out of your check you will probably owe when you file taxes, if you claim zero and withhold at a single rate the government takes more taxes out of your check and you will probably get a refund.
Good point. All these stimulus checks will be expected and counted on from now on. Guess who will pay for it? By the Time conservatives are back in power the economy will be completely destroyed. Get ready for Chinese landlords.
Once you start a handout it’s almost impossible to end it. They’ve become dependent which is exactly what the government wants they’re just too stupid to realize it. Another generation of worthless welfare garbage.
It shouldn’t be a tax “credit” when the majority of people getting more than $1000 each month for their four children are people who, in the end, do not pay taxes!
Just because someone has taxes taken out of their monthly income does not mean they actually pay taxes at the end of the year. Between child credits and other pseudo welfare credits a lot of people get more back than they pay in.
Also, this new monthly payment scam is scheduled to end in 2024. Hmmm what else happens in 2024? Oh, yeah, the election.
So all the people not actually paying taxes are gonna hear how the evil conservative Republicans are going to take “their” money! No more monthly checks unless you elect the big D party.
And after 3 years of getting “free” money, no one is going to want to let that cash cow go.
So all the people not actually paying taxes are gonna hear how the evil conservative Republicans are going to take “their” money! No more monthly checks unless you elect the big D party.
And after 3 years of getting “free” money, no one is going to want to let that cash cow go.
