We asked our accountant about this when we first got the letter. He said in most cases it was fine to keep it (like some people here are saying), the child tax credit has been increased so it "shouldn't" result in a higher tax bill. My situation is different since I always end up oweing state or federal something (for some stupid reason I can not understand) he told me I can opt out and see how it looks at tax time.

I should add that opting out was quite the process. Its ridiculous that to opt out of receiving money took some many forms of ID, but we are pushing to allow so little to vote.

They are really giving you back your money. The problem is they want to go out and write blank checks for "infrastructure" and have of course redefined what infrastruture is to pack it full of pork.

Incentive for those who can't afford or don't need to have more kids to spit out a few more.

It will be needed to offset the massive inflation from all this free money. Then we will all be poor when our paychecks are worthless, and we will all need more free money. That will cause more inflation....repeat.

It's the same money you will get back on your tax return... any financial advisor would say take it now and invest. Compared to letting the govt hold it for a year.

Yes, why anyone would want the govt to hold their money for them is a mystery to me. I'm even married to one. The thought of owing $1 on April 15th makes her want to let the govt borrow thousands of our money throughout the year. It is the strangest thing.

Kids will be sent home from schools in Sept/Oct causing parents to go home. Another 3 trillion will be given and part of the reasoning will be so people will have the same tax refunds as previous years.

Little birdy on a wire told me the preparation for this has already started. DOD put out force guidance last night mandatory masking is back for everyone (vaccinated or not), lots of folks are getting sent back home today (work from home, not fired or anything) and a member of a local school board told me that they've been told to prepare for either all students masking or virtual school again.

The softening and dumbing down of America courtesy Joe Biden and the dems. Paying people for doing nothing. If Joe gets us into a major war we will get our asses kicked.

Yep. Same with the unemployment checks. All that is 100% taxable and now the tax credit that most of the lower income people count on getting every year is gone. They'll spend that 300 or 600 a month on junk and non-necessities not being smart enough to know that their annual tax situation has changed dramatically. Lotta people are going to be shocked when the tax man cometh after the first of the year. But hey, it's all about getting control of people right. No better way to control them than for them the owe the govt $10-$12K that they have no way of ever paying.

The blame will be put on the unvaxed as spring board into Jan mid terms. Steve Wonder can see this.

Speaking of vaxxed and unvaxxed my wife was telling me about her aunt last night. Her Aunt got vaxxed in March. Her kids got COVID last week and were unvaccinated. She was going to take care of them since she got the shot. Well not only did she get COVID but they had to put her in the hospital last night and if her oxygen continues to drop she goes on the ventilator. Just like she never had a vaccination we’re all sitting here waiting for day 10 of her being sick to see if she pulls through or takes a turn for the worst because that’s supposedly when you can tell.

I’ve been vaccinated because I had to be but honestly when I got it I thought it would at least be effective. I’m now sitting here with something in my body for what seems like no reason at all. If I go into a building I still am asked to wear a mask (I never have except work), I can still get sick obviously and now it’s clear you can still get so sick you’re hospitalized and even die.

Take it from someone who is vaccinated, don’t take it. I don’t care what horror story a person will come on here and tell about what they saw at work. They’re directing their frustrations at the wrong people. The vaccine doesn’t work and the Chinese created something that’s killing us. Be mad at the Chinese, not the unvaccinated.

it blows my mind that you have to opt out if you don't want it in advance by proving who you are and if you are married, both parties have to opt out, but they send it freely to everyone without question.

I still haven't gotten my second stimulus yet, been fighting the IRS about it. Total debacle. About to the point to tell them to just keep it.

I think the increase will probably cover the tax burden year one because of partial payout. Next tax time when you have recieved a monthly credit for an entire year, you will probably be on the hook for the tax bill.

That's not the issue eclipse. Do you know how taxes and tax credits work? They get the money now and they spend it and it is gone. In normal years, it shows up on their tax return as a credit, $ for $, to offset taxes owed on wages earned for the year or in a lot of cases now, unemployment. If the credit is not there and they have already spent the money, they are left with a tax bill that they have no way of paying. Yes, in theory, the increase will cover the tax shortfall but that is only if they money is put into savings, which with the typical people this will effect, the chances of those monies going into savings and remaining there are pretty much nil. Example: For a family with three children (one under 6 and two over), getting that $800/month in advance for 6 months, assuming they make the same AGI and have the same withholding as last year, will equate to an increase at tax time in taxes due of $4,800 since that is the amount that their normal tax credit would cover, ......unless every penny that they get monthly is saved to pay taxes. See, if your withholding is the same or less, and you normally have that huge child tax credit at the end of the year to offset what you owe, and now all of a sudden that huge credit is not there or is cut in half, and you dont have the cash to pay it yourself, you're SOL and owned by the IRS (which may have been the intent the whole time). This will be compounded exponentially when people realize that both the regular state unemployment as well as the "bonus" federal unemployment is fully taxable at the federal level but there is no federal tax withheld from unemployment unless you formally elect to have it done and virtually nobody is responsible enough to have that 10% withheld. Not to mention it's also a double whammy, if you've got two adults on unemployment and the combined unemployment is more that they would normally make (gonna be the case in a lot of instances) and it actually pushes them into a higher tax bracket. Wait and watch, and you'll see a ton of people bitching about taxes next spring.

Sorry Auntie is in the 5% but they never said being vaccinated is 100% against getting it. Hopefully it will help her and she will pull through. Listen to what your doctor tells you not what people on Aldeer or anywhere else that don't know their ass from a hemorrhoid will tell you. If you think you know more than your doctor or are smarter than they are then you need a new doctor.

Old dementia Joe has created another class of americans. Upper class, middle class, lower class and now we have the government dependent nonworking class.

Yup

I feel for those that try hard to get ahead and shucks like this catches them off guard because they don't understand it.

For the ones that work about 1/2 a year and live off the government teet, and then file taxes on them 3 kids and get back $10 Grand quit their job again and are broke 3 weeks later, I hope those bastages starve.