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Author Topic: Enhanced Child Tax Credit  (Read 14285 times)

Offline cgr

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Re: Enhanced Child Tax Credit
« Reply #160 on: July 16, 2021, 04:34:50 PM »
Me too.
Got my physical check today. Don't ask me why they didn't do direct deposit.
Seems to be happening to people who got paper checks for the stimulus even if they have direct deposit info on file.

Offline cgr

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Re: Enhanced Child Tax Credit
« Reply #161 on: July 16, 2021, 04:35:33 PM »
Did anyone see/hear any ideas for getting them to correct the amount or will it be automatically adjusted with next years tax return? Not the end of the world, although as someone pointed out above, it seems money will be worth considerably less next year at this rate so the earlier you can get it the better......
It'll be reconciled on your 2021 return.

Offline yitzgar

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Re: Enhanced Child Tax Credit
« Reply #162 on: July 16, 2021, 04:42:08 PM »
How much is it supposed to be for kids turning 6 in 2021?

Offline Kobe Bryant

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Re: Enhanced Child Tax Credit
« Reply #163 on: July 16, 2021, 04:44:04 PM »
How much is it supposed to be for kids turning 6 in 2021?
Advance is $250

Offline Moshe123

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Re: Enhanced Child Tax Credit
« Reply #164 on: July 16, 2021, 05:28:35 PM »
Seems to be happening to people who got paper checks for the stimulus even if they have direct deposit info on file.

I got the stimulus with direct deposit.

Offline AussieMan

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Re: Enhanced Child Tax Credit
« Reply #165 on: July 21, 2021, 07:27:45 AM »
Expat here did not receive the payment yet.
Got all covid stimulus via DD on time.

I wonder if they are not sending to expat (as we are not eligible for the whole $3,600) or it will come in the mail in a few weeks

Offline cgr

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Re: Enhanced Child Tax Credit
« Reply #166 on: July 21, 2021, 08:33:18 AM »
Expat here did not receive the payment yet.
Got all covid stimulus via DD on time.

I wonder if they are not sending to expat (as we are not eligible for the whole $3,600) or it will come in the mail in a few weeks
Only residents are eligible for the advance.

Offline Jack out of the box

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Re: Enhanced Child Tax Credit
« Reply #167 on: July 21, 2021, 04:17:48 PM »
Only residents are eligible for the advance.
Must be a resident of the US for at least 6 months of the calendar year in order to qualify for the enhanced CTC. The advance is a part of the enhanced CTC.

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Re: Enhanced Child Tax Credit
« Reply #168 on: July 21, 2021, 08:02:23 PM »
Just a quick poll, how many people are actually considering enhancing their child, just to get a tax credit? And which rabbonim signed off on it?

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Re: Enhanced Child Tax Credit
« Reply #169 on: July 21, 2021, 08:16:55 PM »
Just a quick poll, how many people are actually considering enhancing their child, just to get a tax credit? And which rabbonim signed off on it?

We need the actuarial value before anyone can sign off on it.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline 4yourinfo

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Re: Enhanced Child Tax Credit
« Reply #170 on: July 21, 2021, 08:19:20 PM »
The $2k base credit is availble to couples earning less than $400k, and ideally (assuming no major overpayments) you don't get more than $2k per child in advance payments ($1,500-$1,800), so no, I don't see opting out as the go-to option for everyone in this bracket.
That being said, if you think you'll owe taxes at year end it might make sense to opt out, or at least put the money aside in savings. It's no fun being hit with a tax bill and not having the credits to offset it.
Why opt out there's always the chance - a big one with Biden that the payments won't be reconciled - just like he did with the aca this past year

Offline Kobe Bryant

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Re: Enhanced Child Tax Credit
« Reply #171 on: July 21, 2021, 08:32:40 PM »
Why opt out there's always the chance - a big one with Biden that the payments won't be reconciled - just like he did with the aca this past year
There isnít. Unless Congress passes new legislation.

Offline Jack out of the box

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Re: Enhanced Child Tax Credit
« Reply #172 on: July 22, 2021, 03:04:53 AM »
Just a quick poll, how many people are actually considering enhancing their child, just to get a tax credit? And which rabbonim signed off on it?
I was once bumped off a flight (before takeoff  :) ) and placed on a different route that same day. Since I had not reserved a kosher meal on the replacement flight 24/48 in advance, there was none waiting for me. I asked the flight attendant if they had any extra kosher meals on board. (They did.) The passenger sitting next to me asked "Why do you need 'extra' kosher? What's wrong with 'regular' kosher?"

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Re: Enhanced Child Tax Credit
« Reply #173 on: July 22, 2021, 06:58:52 PM »
I was once bumped off a flight (before takeoff  :) ) and placed on a different route that same day. Since I had not reserved a kosher meal on the replacement flight 24/48 in advance, there was none waiting for me. I asked the flight attendant if they had any extra kosher meals on board. (They did.) The passenger sitting next to me asked "Why do you need 'extra' kosher? What's wrong with 'regular' kosher?"

Did you tell him extra Kosher provides you with extra protection from people who donít mind their own business? :D

Offline Iz

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Re: Enhanced Child Tax Credit
« Reply #174 on: July 22, 2021, 08:01:02 PM »
Did you tell him extra Kosher provides you with extra protection from people who donít mind their own business? :D
I would tell him that it includes an extra portion for nosy neighbors.

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Re: Enhanced Child Tax Credit
« Reply #175 on: July 30, 2021, 10:59:25 AM »
Does anyone else still show "Pending" in the portal?
Workflowy. You won't know what you're missing until you try it.

Offline M218

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Re: Enhanced Child Tax Credit
« Reply #176 on: July 30, 2021, 11:04:32 AM »
I was once bumped off a flight (before takeoff  :) ) and placed on a different route that same day. Since I had not reserved a kosher meal on the replacement flight 24/48 in advance, there was none waiting for me. I asked the flight attendant if they had any extra kosher meals on board. (They did.) The passenger sitting next to me asked "Why do you need 'extra' kosher? What's wrong with 'regular' kosher?"
If itís on the way back from Israel on ELAL I think everything kosher.

Offline bzam99

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Re: Enhanced Child Tax Credit
« Reply #177 on: July 30, 2021, 11:05:36 AM »
was the old $2k credit for everybody or fazed out based on income? If so, is it different than the scale being used for the new credit program?

Offline avromie7

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Re: Enhanced Child Tax Credit
« Reply #178 on: July 30, 2021, 11:27:23 AM »
was the old $2k credit for everybody or fazed out based on income? If so, is it different than the scale being used for the new credit program?
It was phased out at a higher income than the $3,000 and $3,600 however part of it (IIRC $600) was not refundable meaning people who didn't have a tax liability did not get all of the $2,000. Now the entire $3,000 or $3,600 is refundable.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline cgr

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Re: Enhanced Child Tax Credit
« Reply #179 on: July 30, 2021, 01:25:47 PM »
Does anyone else still show "Pending" in the portal?
Did you file an amended return?