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Author Topic: Enhanced Child Tax Credit  (Read 8311 times)

Offline cgr

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Enhanced Child Tax Credit
« on: May 19, 2021, 01:00:06 PM »
The IRS will start issuing the advance payments of the newly refundable CTC, which is $300/month for children under 6 and $250/month for children 6-17, on July 15th.
https://www.irs.gov/newsroom/irs-treasury-announce-families-of-88-percent-of-children-in-the-us-to-automatically-receive-monthly-payment-of-refundable-child-tax-credit

Offline m65

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Re: Enhanced Child Tax Credit
« Reply #1 on: May 19, 2021, 06:55:35 PM »
what are the qualifications?
if i havent filed 2020 yet will i get it?
those who live abroad?

Offline cgr

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Re: Enhanced Child Tax Credit
« Reply #2 on: May 19, 2021, 07:00:32 PM »
what are the qualifications?
if i havent filed 2020 yet will i get it?
those who live abroad?
-Maximum MFJ AGI- $150k ($75k single)
-You might get it based on 2019, or you'll need to register thru the portal- not clear yet.
-US Resident

Offline Buruch

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Re: Enhanced Child Tax Credit
« Reply #3 on: June 06, 2021, 11:57:33 AM »
-Maximum MFJ AGI- $150k ($75k single)
-You might get it based on 2019, or you'll need to register thru the portal- not clear yet.
-US Resident

Must be a US resident, or just can't claim FEIE?

Offline cgr

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Re: Enhanced Child Tax Credit
« Reply #4 on: June 06, 2021, 12:02:17 PM »
Must be a US resident, or just can't claim FEIE?
US Resident. Non-Residents will be able to claim the regular CTC like every year, but not the enhanced one.

Offline Buruch

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Re: Enhanced Child Tax Credit
« Reply #5 on: June 06, 2021, 12:11:26 PM »
US Resident. Non-Residents will be able to claim the regular CTC like every year, but not the enhanced one.

Kollelniks in Israel should qualify because studying abroad (temporarily) doesn't exclude you from being a US resident?

Offline MeirS

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Re: Enhanced Child Tax Credit
« Reply #6 on: June 06, 2021, 01:53:52 PM »
-Maximum MFJ AGI- $150k ($75k single)
-You might get it based on 2019, or you'll need to register thru the portal- not clear yet.
-US Resident
Is there a portal set up for this one? Filed 2020 but I have a kid born in 2021.

Offline cgr

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Re: Enhanced Child Tax Credit
« Reply #7 on: June 06, 2021, 01:55:29 PM »
Is there a portal set up for this one? Filed 2020 but I have a kid born in 2021.
IRS expects to have it ready by July 1st.

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Re: Enhanced Child Tax Credit
« Reply #8 on: June 06, 2021, 02:29:00 PM »
IRS expects to have it ready by July 1st.

Hopefully itíll be more robust than the Get My Payment stimulus portal.

Offline Jack out of the box

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Re: Enhanced Child Tax Credit
« Reply #9 on: June 09, 2021, 01:56:56 PM »
Kollelniks in Israel should qualify because studying abroad (temporarily) doesn't exclude you from being a US resident?
Must be physically present in USA for 6 months of calendar year just like for EITC.

Offline cgr

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Re: Enhanced Child Tax Credit
« Reply #10 on: June 15, 2021, 09:39:30 AM »
The IRS opened the CTC registration portal yesterday.
https://www.irs.gov/credits-deductions/child-tax-credit-non-filer-sign-up-tool
It also allows non-filers to register for stimulus payments.

It doesn't seem to allow registration for children born in 2021. Can anyone make sense of this sentence?
Do not use this tool if you: Do not have a qualifying child who was born before 2021 and had a Social Security number issued before May 17, 2021.

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Re: Enhanced Child Tax Credit
« Reply #11 on: June 15, 2021, 09:43:22 AM »
It doesn't seem to allow registration for children born in 2021. Can anyone make sense of this sentence?
Do not use this tool if you: Do not have a qualifying child who was born before 2021 and had a Social Security number issued before May 17, 2021.

i believe it means that your child born before 2021 must have a SSN issued before May 17, 2021.
Failing at maintaining Lurker status.

Offline M218

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Re: Enhanced Child Tax Credit
« Reply #12 on: June 15, 2021, 09:46:50 AM »
I just got the letter in the mail, I guess all of you guys Got what a waste of paper.

Offline Jack out of the box

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Re: Enhanced Child Tax Credit
« Reply #13 on: June 15, 2021, 01:12:06 PM »
The IRS opened the CTC registration portal yesterday.
https://www.irs.gov/credits-deductions/child-tax-credit-non-filer-sign-up-tool
It also allows non-filers to register for stimulus payments.

It doesn't seem to allow registration for children born in 2021. Can anyone make sense of this sentence?
Do not use this tool if you: Do not have a qualifying child who was born before 2021 and had a Social Security number issued before May 17, 2021.
If a child was born in 2020 then the SSN must have been issued by May 17, 2021.
If the SSN was not issued by that date then don't claim this child using this form but you can still claim the child on a 2020 tax return if the SSN is issued by the due date or extended due date of your 2020 tax return. I wonder if an extension would actually help for the non-filer form as well. My guess is that it would but as this form is designed for non-filers, the assumption is that they do not have extensions.

Offline cgr

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Re: Enhanced Child Tax Credit
« Reply #14 on: June 15, 2021, 01:26:12 PM »
If a child was born in 2020 then the SSN must have been issued by May 17, 2021.
If the SSN was not issued by that date then don't claim this child using this form but you can still claim the child on a 2020 tax return if the SSN is issued by the due date or extended due date of your 2020 tax return. I wonder if an extension would actually help for the non-filer form as well. My guess is that it would but as this form is designed for non-filers, the assumption is that they do not have extensions.
Thanks.
I read through the FAQs now, and they state that they hope to update the tool later on to also allow for 2021 babies to be registered once they have an SSN issued.

Offline gozalim

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Re: Enhanced Child Tax Credit
« Reply #15 on: June 15, 2021, 01:38:56 PM »
Thanks.
I read through the FAQs now, and they state that they hope to update the tool later on to also allow for 2021 babies to be registered once they have an SSN issued.
at some point they were going to include unborn as well?

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Re: Enhanced Child Tax Credit
« Reply #16 on: June 15, 2021, 01:46:46 PM »
A baby born in 2021 will only get the money starting the month they were born?

Offline m65

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Re: Enhanced Child Tax Credit
« Reply #17 on: June 15, 2021, 01:54:43 PM »
at some point they were going to include unborn as well?
how about כל הנשמות שבגוף?  (see נדה יג עמוד ב)

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Re: Enhanced Child Tax Credit
« Reply #18 on: June 15, 2021, 01:56:33 PM »
how about כל הנשמות שבגוף?  (see נדה יג עמוד ב)
Mashiach can't come fast enough. If כל הנשמות שבגוף refers to US Government cash then I think we're pretty close.

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Re: Enhanced Child Tax Credit
« Reply #19 on: June 15, 2021, 02:27:15 PM »
A baby born in 2021 will only get the money starting the month they were born?
No, they will get the full $3600.
If it benefits even just one fellow DDFer, its worth posting it.