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Jul 22, 2021
10:27
:07
am
mycketchicken
Walk-on
RE: I just got a $695 advance child tax credit payment. Is this dependent on
If your AGI (single) is <75k, you qualify. If filing jointly, it’s <150k. It starts to phase out after that
CNET
Child tax credit FAQ: Payment schedule, opt out deadlines and more
Not sure when to expect your next child tax credit payment? We've got you covered.
https://www.cnet.com/personal-finance/taxes/child-tax-credit-faq-payment-schedule-opt-out-deadlines-and-more/
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mycketchicken
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mycketchicken
Joined
Jul 22, 2021
Last login
Sep 20, 2021
Total posts
14 (0 FO)
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Messages
Author
Time
I just got a $695 advance child tax credit payment. Is this dependent on income?
Iman23
7/22/21 10:21am
Can’t rally send it back. You need to opt out of payments though.
ThreatLevelMidnight
7/22/21 10:23am
My recommendation is to put it into a separate account labeled "future taxes" and earn $1.25 interest. Before you pay it
BYUALWAYSNUM1
7/22/21 10:24am
RE: I just got a $695 advance child tax credit payment. Is this dependent on
mycketchicken
7/22/21 10:27am
Yes, there are phaseouts on income. If you think you won't qualify based on
rggee
7/22/21 10:30am
I filed my taxes this year, and I didn’t bother opting out
JOPE
7/22/21 10:33am
Your income isn't likely high enough to phase out of the normal 2k per kid (it's
rggee
7/22/21 10:35am
Yes, I did the math in my head and it looks like they’re just a giving me my
JOPE
7/22/21 10:36am
Same boat. Don't think I qualify but got my $700 check mailed this week.
camp_chef
7/22/21 10:36am
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