Child tax credit: How to know if you qualify, how much you'll get paid | Just the FAQs
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- čas přidán 16. 05. 2021
- Biden increased child tax credit payments under his American Rescue Plan. Here's the latest on how much you'll get and when you'll get the payments. RELATED: rb.gy/jnkj2y
WASHINGTON - Millions of Americans with children will see more money in their bank accounts starting in July.
The Treasury Department and the Internal Revenue Service will begin sending monthly advance payments of $250 or $300 to low- and moderate-income families under the newly expanded Child Tax Credit starting July 15.
The payments will continue on a monthly basis through December, and most eligible families will receive them via direct deposit, senior administration officials said Sunday. Families that don’t have direct deposit will receive the payment either as a paper check or a debit card.
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What about us single people with no kids in the house that get barely crap back after paying in a large chunk of their checks!?
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Take caution it seems these checks come from the child credit that you would claim at the end of the year meaning they give you the money now instead of then not both so when you file and are used to a bigger return if you take the money july-dec no credits left on actual return I sense alot of drama going down at h&r block Jan-feb!
What if we got our credit on our 2020 refund? Do we still get this or no? It's basically just spreading out the child credit throughout the year rather than getting it all at once when u file taxes?
It's an advance. That's all it is.
That's what's wrong with the Country everyone wants it given to them
Will a new born child in july 2021 be a quantifying child to receive $$?
What can I do if my ex claimed her on taxes this year but yet now I am also eligible for this money because she lives full-time with me?
Good question. I'm in same boat
What about all the money that federal government workers received. Not to mention the monetary bonuses they paid themselves.
I need help. I really need help. I'm way off financial track. Helo me get back on track.
What if you don’t file taxes? I am 100% disabled thru the va from the army...... and I have a 16 year old
You would file a 1040,,you can do it online in 10 minutes.
Hello 👋
@@ambercrane1554 THANK YOU.
@@ambercrane1554 I called a tax place near me and he said no I don’t file anything, they will use what they did for the stimulus payments..... if anyone else needs to know. But that yes I do have to come in and file for the 1st missing stimulus check
I think this is for taxable income. With 100% VA disability you don't even have to pay property tax. I'm at 80 % but my new state is 100% for property taxes. Thanks for your service.
Sorry for the long ass essay I typed guys lol couldn't help it guys it actually reminds me of foster parents that do foster just to get paid for it when they don't do shit to help the child you foster
I have a question hopefully someone has a answer, i made 68k 2020 and filed head of household with two kids under 7 years old and i only received a 1600$ federal refund.. so if i opt in to this advanced child tax credit and get 6000$ for my two kids when I only received a 1600$ refund last year, how does that work?? Will i owe that money back??
It’s not taxable.
It’s a credit. Credits aren’t taxable and can either be used to reduce your taxes or to get a refund. This credit will be given during this year.
@@fernandoserrano9393 so is it different from all the other times i claimed my kids on taxes?
@@majorskillz6235 , from what I read, it will be paid later this year instead of receiving it when you file taxes in 2022.
It's no different than any other time you got the tax credit. Just higher amount and advance.
I did taxes in 18 19. I was told not to file this year will I still get the child credit?? I have two children. On 9 years old and the other just turned 15. Will I get any credit for them??
Hello 👋
You should go file. This is based off 2020 tax return.
How is gonna work for me my son will born in July 15 .. am I eligible???
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If your have a child and you are on welfare, each month you get something prob called SNAP. You get food stamp and cash assistance. Child care school help. Housing assistance some sec8 others rent reduction in certain homes. As long as you work andor school. You get a tax credit as well, this is PER child. Plus if you recieve child support. Meanwhile Dad has his kids 60% or more of the time. Oh and if he's disabled and cant file sad. As long as the family doesn't fully reconcile. Mom wins Dads just there.
This year they don't have to work to get the tax credit.
So y keep letting people get away taking money that's not theres like Margaret Crawford had her kids taken in care in November 2011 carried on claiming for all 3 till April 2012 kid carrisa Crawford tyler and kaela
And people wonder why inflation is soaring?
Inflation? You mean that’s why the cost of lumber is through the roof? Which I can’t afford to replace because of the cost of lumber is through the roof which I can’t afford to replace because, opps, almost got caught in a cyclone of desperation over inflation
I filed my 2020 taxes and I have 7 kids but there moms won't let me claim non of them so would I still get even though I didn't claim them on taxes???
No. You can't. If you can't claim your kids you get nothing. As you shouldn't get anything.
No.
@@homiehomie9558 u don't know me to say that because 2 of my kids stay with me and the others I get them all the time I take care of my kids its there moms that want let me claim because of child support
@@michaelperkins7150 sorry for assuming . well I guess you weren't married then when you had the kids. A divorce would have outlined when a father can claim his children. My divorce states alternating years. Even with child support and alimony. I wrote my own divorce you know.
Only way to fight this now for you. Is to get it outlined in a parenting plan. You will need to take them to court.
I’d worry less about what you’re getting back in taxes and more about affording birth control. 7 kids!
What a bunch of bullshit. They are trying anything to get him for nothing.
Not that hard to figure out lol
She only then explains families that didn’t make enough to file....... I’m not low income at all. I just never file taxes....
Disincentive because 600 a month pays all the bills...ok!!!
$600 a month plus unemployment. Yes it could help pay all the bills in some family’s lives…
Republicans' really believe people are going to stop working for a $300 a month?
Should I claim the child tax money if I am not working? I worked last year but this year I am not so I filed my 2020 taxes, Would I have to pay the money next year?
Why Should I as a tax payer have to pay for others life choices? We have been doing it since the pandemic started. To a smaller degree we have been doing it for about 50 years. Guess what I chose not to bring a child into this over crowded world. People that do have children are making that same choice every day. If you have a kid guess what??? That kid is "YOUR" responsibility. Not the teachers, not the police, not the governments, and certainly not societies. If the kid grows up to be a criminal hate to say it but, BAD Parents. Kid grows up to be a bum or drug addict again BAD Parents. There are a few exceptions to the rule but, those are like finding lottery winners. I didn't fight for this country to be a SOCIALIST/COMMUNIST. Were everyone is looking for some kind of hand out. The only thing the government is ensuring by giving all this money away is the future failure of this country.
WHAT ABOUT PEOPLE WHO DON'T HAVE ANY CHILDRENS WHAT ARE THEY GOING TO GET???????
We are going to pay for it.
What are we going to get? We are going to get taxed more! That’s our privilege. What’s wrong with you? Don’t you want to go to work, bust your butt to try and provide for yourself and give 30% of your paycheck to others who don’t? Jeez! It’s like your selfish or something.
@@johnqpublic4691 I'm disabled okay!!!!!!
You have never qualified for a CHILD TAX CREDIT SO WHY ARE YOU EVEN HERE. PITIFUL.
Stop begging for money that's meant for families and future tax payers since the 90s. Singletons and old people are embarrassing. Ohhh what do we get. You've never gotten a child tax credit. Why would you now.
Pay for your own damn kids or stop having them! I already help pay for your teachers!
damn that money must be hurting you, how much you squeeze on those taxes. you only eating ramen? seems like a strange thing to be so worked up about.
Let me enlighten you a little bit. You are apart of a society. You pay taxes for that society. Don't want to be apart of it you should go live under a rock maybe.
This is a child tax credit. Every working parent qualifies for this. It's our money and they give it back every year. People with no children aren't giving back to society in children form so they don't get more of their taxes back. This is the only year people that are unemployed with kids can get this. And it's because of the pandemic. Working parents that receive this will also be paying higher taxes to help the unemployed parents. That is how a society works. The children are the future. Not you. Or aging people. It's the kids.
Your only duty to society is to reproduce or a society dies off. Get it. It is societies Job and parents to make sure they grow up. Got it. Good.
LOL, childless people are getting a break already. If you guys want a tax break you can pay for my kids sports, school supplies, clothes, braces, vacation costs, breakfast, lunch, and dinners. Oh yeah, you can also pay for my kids' friends' birthday presents, my kids' birthday parties, and Christmas presents. Do you want to pay for the pet expenses incurred because my kids had to have a dog, turtle, fish, hamster, another dog? "Yeah, but that's your choice to have children, neh." Yep, and it's your choice to not have children and pay a little more in taxes, but not pay a lot more in raising children to carry our society and civilization into the future.
@Brandon Banchio , I'm glad WE made the decision for you to have kids. Oh wait, that never happened. Take responsibility for your choices and quit looking for a handout.
@@prezadent1 The child tax credit has been around since the 90s. You're the ignorant one. You're going to pay wether you like it or not. Get over it.
@@homiehomie9558 Sounds like you're the triggered one that needs to get over it. Calm down before you have an aneurysm.