A Stimulus Check Is Coming Out On Wednesday

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Kitty4670
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14 Sep 2021, 3:43 pm

Good news for parents. Does this mean no more money for me?

https://www.iheart.com/content/2021-09- ... -wednesday


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kraftiekortie
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14 Sep 2021, 3:45 pm

LOL....I haven't gotten any stimulus since the first stimulus check.

Sorry about that, Kitty.



DW_a_mom
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14 Sep 2021, 5:27 pm

I've been surprised by how many people on the list to get these didn't realize they would be coming each month for six months.

I have to warn people, however, that these checks could mean owing taxes in April. No one ever prepares for that, so please do. The checks are an advance of a credit that will claimed when tax returns are filed, and that credit has already been partially factored into how much tax to tax from your paycheck. Since you already have the credit in cash, you won't get it again on your return, and could have to pay all or part back. So, please, be careful how much of this "free money" you spend.

FYI there is an option to stop getting the checks and save the credit for when you file your returns. Go to IRS.gov to find the opt out section.


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Kitty4670
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14 Sep 2021, 9:16 pm

kraftiekortie wrote:
LOL....I haven't gotten any stimulus since the first stimulus check.

Sorry about that, Kitty.



Sorry. They are giving money for child support too.


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Kitty4670
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14 Sep 2021, 9:22 pm

DW_a_mom wrote:
I've been surprised by how many people on the list to get these didn't realize they would be coming each month for six months.

I have to warn people, however, that these checks could mean owing taxes in April. No one ever prepares for that, so please do. The checks are an advance of a credit that will claimed when tax returns are filed, and that credit has already been partially factored into how much tax to tax from your paycheck. Since you already have the credit in cash, you won't get it again on your return, and could have to pay all or part back. So, please, be careful how much of this "free money" you spend.

FYI there is an option to stop getting the checks and save the credit for when you file your returns. Go to IRS.gov to find the opt out section.



I thought you only pay taxes when you working?


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