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Jul 22, 2021
10:30
:24
am
rggee
All-American
Yes, there are phaseouts on income. If you think you won't qualify based on
2021 income, go to the IRS site and opt out of the remaining 5 payments.
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rggee
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RGGeemer
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rggee
Joined
Aug 18, 2010
Last login
Aug 29, 2021
Total posts
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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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