Government check arrived today what the ****

[wildbill1973z28]

“Redistribution of wealth” Their pathetic lives will be meaningless, worthless and they will never enjoy the feeling that comes with freedom, self-sufficiency and dignity.

U so right brother!

 

[wildbill1973z28]

Previously, it was a non-refundable 2000 per child credit.
To use the credit fully, I would have to adjust my withholding so that I would "owe" that amount.
No refund for the credit not used.

Now it is 3000 and 3600 depending on age and it is refundable. Half is being doled out monthly.

Everything has embedded taxes.
I easily spend 300 or more a week in groceries.
It is just a matter of time before the **** hits the fan.

I me the 65 old man! Had to change my federal to have them take out 100 more dollars per week so that I would not have to owe at the end of the year

 

[wildbill1973z28]

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.

You are pretty much right on except if you got 10 babies you can go exempt oh year no federal taxes removed from your check and still get by thousands of dollars at the end of the year

 

[garypl50]

I opted out of the child payments, would have received $2800 a month, my CPA told me not to take it that the IRS would rape me next year when I filled taxes.

I don't qualify for any government payouts, but aren't these stimulus payments tax free? If not, there will be a lot of surprised folks next year!

 

[Glorfindel]

I got muh check today. Gonna spend the hell out of it while the money is still good.

 

[Bushwick100]

The new child tax credit will make him rich at $3,000-$3,600 per kid

That money will be taken out of his next years Taxes, what they are doing is giving them there Children's Earned income Credit early. Who ever signed up for the Program is getting the money. My daughter has 1 child and decided not to get the money early. If, I'm wrong please correct me, ODT is better than any News network.

 

[GodBlessTheUSA]

"Earned" income credit, that's the other big lie. If you work some jobs you not only get back all the federal income taxes that you paid in, you also get an "earned" income credit that entitles you to get more money back than you put in. i.e. wealth redistribution.

Now add the "child credit". Some of us will "lose" that "deduction" at the end of the year, but many, many more will get more money out of the government (wealth redistribution) than they put in.

 

[41mag]

My kid is grown and gone. All this is to us is a redistribution of wealth…..not that i am anywhere near wealthy !! Lol.

 

[Gaffer1968]

It’s not unemployment it’s supposedly “Stimulus”
He has his own trucking company so he’s not cheating anyone, it being sent to him without request.

I was going by what the OP posted about an non-working person..... I've seen weird things like this 'tax credit' before. Had a friend who adopted a kid from overseas and he got a $15000 tax credit off his taxes. A sizeable chunk....

 

[41mag]

A bunch are receiving checks along with a tax credit…. Folks like me will get neither, we have to pay for it