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More Biden bux coming ... If you've got kids


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18 minutes ago, Ominous said:

I just got a bit over 500 but don't know why. AGI was over 200k last year and I thought that would have made us ineligible. In just gonna set this shit to the side for now, better than an interest free loan to the government.

 

How many kids do you have? The credit phases out starting at 150k. $50 for every $1000 in income over the limit.

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1 hour ago, Ominous said:

3 kids. I known I'm making less this year, so I'm not too concerned but it seems like some people are going to get fucked over at tax time. 

 

I thought this was based on people's 2020 tax returns. Either way, anyone that is worried about making too much this year can go jump on the IRS site to opt of payments this year. They did send everyone eligible a letter saying as much.

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3 hours ago, Ghost_MH said:

 

I thought this was based on people's 2020 tax returns. Either way, anyone that is worried about making too much this year can go jump on the IRS site to opt of payments this year. They did send everyone eligible a letter saying as much.

I just got the letter, after getting my money. Thanks usps. 

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18 minutes ago, Ominous said:

I just got the letter, after getting my money. Thanks usps. 

 

I'd just take the money and stick it in a HYSA and then pay it back at taxes next year. Service Credit Union for instance has one account that's 5% on up to $500 and another that's 3% on up to $3k. Or use it to cover floating large deposits to hit bank bonuses.

 

Plus you said you expect to make less this year, may as well just take the money and see if you even need to pay it back after the year's up.

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30 minutes ago, Jason said:

 

I'd just take the money and stick it in a HYSA and then pay it back at taxes next year. Service Credit Union for instance has one account that's 5% on up to $500 and another that's 3% on up to $3k. Or use it to cover floating large deposits to hit bank bonuses.

 

Plus you said you expect to make less this year, may as well just take the money and see if you even need to pay it back after the year's up.

That's my plan. If it's part of a refund I'm going to get I'll take it now. If I owe I'll have it ready to go. I don't normally get much back from the feds, but it just seems like one hell of an increase in money coming back to me. 

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On 5/17/2021 at 9:29 AM, best3444 said:

 

This. I have a sad right now because I don't have children. Fuck this shit. :p

It is so NOT worth it to me to have kids just to get a tax credit. Kids usually involve a bat shit crazy wife, ex-wife, or girlfriend demanding child support.

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