Advanced Child Tax Credit? Opt out?

[BigSexyPhoenix]

Why is this child tax credit so hard to understand? It’s been around for years and any of you with children have been getting it. All they did was raise it by $1000 or $1600 depending on age of the child and are giving you half monthly and the other half as a tax credit when you file your taxes.

[g352nv]

Why is this child tax credit so hard to understand? It’s been around for years and any of you with children have been getting it. All they did was raise it by $1000 or $1600 depending on age of the child and are giving you half monthly and the other half as a tax credit when you file your taxes.

Maybe because some of us didn't get the opt out paperwork? Maybe because this is the first time you can get a advance on the credit in cash? Maybe because the messaging hasn't been very good?

[JHelms]

For you guys who are opting out, the government thanks you. You can also get a bigger refund by increasing your withholding at Step 4(c) on the new W-4 form for you W-2 employees.

[kry29]

Im not sure about opting out. I would be willing to bet that its "free money" come tax time. That or some bill gets passed to make it separate money and you get the usual credit. I think we are going to get it and see what happens. We will save it anyway

[SWbass]

I want a dog tax credit ! To heck with a kids credit let them get a paper route or mow lawns and contribute

[BigSexyPhoenix]

Maybe because some of us didn't get the opt out paperwork? Maybe because this is the first time you can get a advance on the credit in cash? Maybe because the messaging hasn't been very good?

I haven’t gotten any paperwork on it. I have the same info you all have on it.

[Bronzebackfive]

Get it now in monthly payments or get it next year when you file 2021 taxes. Nothing complicated about it.

[Z520C]

For you guys who are opting out, the government thanks you. You can also get a bigger refund by increasing your withholding at Step 4(c) on the new W-4 form for you W-2 employees.

I usually pay very little or get very little back. I keep my money on my own. Do not need someone to give me my money back

[RANGER487]

We got a letter last week or the week before that had it listed at the bottom. Threw it out but a google search should find it.

Thanks we did not get anything yet either

[camman]

Im not sure about opting out. I would be willing to bet that its "free money" come tax time. That or some bill gets passed to make it separate money and you get the usual credit. I think we are going to get it and see what happens. We will save it anyway

Bingo!

[Bsktball55]

This is the issue I'm having. Is there a website or something?

I think the website opens July 1st