PSA: Money is coming in the mail this week

Reality

Mon, Jul 12 2021, 4:42 pm

FranticFrummie wrote:

Dang, DD picked a fine time to turn 18! Mad

Couldn't she have waited another year or two?

Don't feel bad. You wouldn't have been eligible anyway because you made aliya.

suremom

Mon, Jul 12 2021, 4:57 pm

amother [ Feverfew ] wrote:

We make 200,000. I think it’s very reduced. Not getting the extra amount.

Does the number of kids you have make you qualify at higher income level?

amother

Seafoam

Mon, Jul 12 2021, 5:02 pm

acemom wrote:

If I understood correctly, if you got your refund in previous years as a direct deposit, you will be getting the credit straight into your bank account.

It is a good PSA though, especially for those that don't check their mail regularly now in the summer.

It’s not direct deposit like the stimulus checks?

amother

Pear

Mon, Jul 12 2021, 5:33 pm

amother [ Seafoam ] wrote:

It’s not direct deposit like the stimulus checks?

It is

amother

Brunette

Mon, Jul 12 2021, 5:38 pm

I wish the income limit would be extended. We are what are known as the poor middle class and always seemingly just miss these cutoffs. Anon because I don't want to be burned for complaining that our joint income is greater than 150.

amother

Denim

Mon, Jul 12 2021, 5:43 pm

There are calculators online to see how much you’re getting. It’s up to 400k just it starts getting less after 150k but not like the first stimulus payment. It’s not that much less (at least according to the calculator I used)

amother

Honeydew

Mon, Jul 12 2021, 5:44 pm

amother [ Brunette ] wrote:

We are in the same boat. BH my husband and I have a decent salary, but with 4 kids and 4 tuitions and other expenses, you’d never know it. We have not received a cent of stimulus money.

amother

Bellflower

Mon, Jul 12 2021, 5:48 pm

amother [ Brunette ] wrote:

Same here, same here.
We pay loads of taxes and haven’t gotten a cent.
What an awful system where hardworking Americans get punished, while lazy good for nothing people get rewarded.
Yes I know not all unemployed are lazy, but many many are.

amother

Mistyrose

Mon, Jul 12 2021, 5:56 pm

amother [ Bellflower ] wrote:

I know you didn't mean it, but your post is quite nasty!
My DH and I both work full time, and with our family size we're still eligible for stimulus checks and this new child payments thing. Be grateful that your jobs bring in enough that you aren't eligible.

amother

Denim

Mon, Jul 12 2021, 5:59 pm

amother [ Mistyrose ] wrote:

It’s actually not nasty! I’m in the same boat. You are probably way better off that you qualified for the stimulus and anything else you may be eligible for

amother

Peony

Mon, Jul 12 2021, 6:02 pm

amother [ Bellflower ] wrote:

We have been just under the limit for a while, and my husband bH just got a raise. I decided to drop my hours to stay under the limit because why should I work harder for less money 🤷‍♀️. This stimulus and tax credit is all we get- no food stamps or Medicaid or even WIC.

amother

White

Mon, Jul 12 2021, 6:05 pm

amother [ Maroon ] wrote:

You are still getting a tax credit when you file taxes. The credit has increased significantly and part of it your getting monthly and the rest at the end of the year.

How can I figure out how much I would still be getting at the end if the tax year? I've been actually trying to figure this out and if anyone who could help me I would really really appreciate it.

amother

Seafoam

Mon, Jul 12 2021, 6:17 pm

amother [ Outerspace ] wrote:

Thanks wiki! Can I get it if I had a baby in 2021, and how?

Would love to know the answer (also have a 2021 baby). Pretty sure we’ll just get it all at the end when we file our 2021 taxes and they see there was a baby born

fortunate123

Mon, Jul 12 2021, 6:26 pm

Success10 wrote:

No, and it's also not for those who reside outside the US. Mad

Actually, you can reside outside the US and still get it if you are an American citizen and file US taxes annually.

amother

Taupe

Mon, Jul 12 2021, 6:38 pm

Many who qualify both spouses do work but don't make enough money. My husband and I both work. My husband has a degree and even has a second evening job. Yet the two of us earn less than 100,000 together. These stimulus and child tax credits have really helped us BH.

fleetwood

Mon, Jul 12 2021, 6:39 pm

FranticFrummie wrote:

Dang, DD picked a fine time to turn 18! Mad

Couldn't she have waited another year or two?

Was just thinking the same thing!! Oh well ..would've been nice!!

amother

Stoneblue

Mon, Jul 12 2021, 6:55 pm

The tax credit will be paid out early, via direct deposit or checks depending on your previous tax returns, and come in monthly payments on the 15th of each month starting in July. It is coming off the lump sum you will receive when you file your 2021 taxes, so the rest will be given then.

If you have a baby in 2021, you will not receive monthly payments but rather the one lump sum when you file your taxes. If you wish to not receive the advance payments and just get the full credit when filing, the deadline to opt out has already passed.

amother

Turquoise

Mon, Jul 12 2021, 7:01 pm

Can someone please post the link for the calculator to figure out how much we would get if we make over $150k?

amother

Pear

Mon, Jul 12 2021, 7:08 pm

amother [ Stoneblue ] wrote:

If you have a baby in 2021, you will not receive monthly payments but rather the one lump sum when you file your taxes. If you wish to not receive the advance payments and just get the full credit when filing, the deadline to opt out has already passed.

That's false.
If you have a baby in 2021, the IRS has a portal where you can add the baby.