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Joe Biden - mail box money - child tax credit

1,359 Views | 8 Replies | Last: 2 yr ago by Bird Poo
Fightin_Aggie
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AG
I keep getting the mailbox money but pretty sure I don't qualify.

If I never cash the checks, how would that impact my 2021 filing?

Will review with my CPA before filing, just curious what you all think .
The world needs mean tweets

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Trump 2024
Decay
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Cash them all, invest, then give it back and thank the government for the free loan. Uh, and then pay taxes on the profit. Sh-t
Maverick06
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I don't qualify and got my first payment direct deposited today. Guess I'll just be paying it back next spring. So damn dumb. Should have let us opt in not have to opt out.
Fightin_Aggie
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Maverick06 said:

I don't qualify and got my first payment direct deposited today. Guess I'll just be paying it back next spring. So damn dumb. Should have let us opt in not have to opt out.


They have an opt out but you gotta do facial recognition to complete the opt out!

Vote - no id

Illegal immigrant that can't care for yourself - come on in and get free healthcare and bennies

The world needs mean tweets

My Pronouns Ultra and MAGA

Trump 2024
ag0207
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I don't qualify and received the payment. I tried to opt out but got to the last step and it gave me an error message. So I contacted their customer support and was told that they would look into and get back to me. That was 2 months ago. I attempted to contact them a few more times and have just given up. Incompetent government......who would have thought they couldn't get something like this right?
Red Pear Luke (BCS)
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ag0207 said:

I don't qualify and received the payment. I tried to opt out but got to the last step and it gave me an error message. So I contacted their customer support and was told that they would look into and get back to me. That was 2 months ago. I attempted to contact them a few more times and have just given up. Incompetent government......who would have thought they couldn't get something like this right?
I opted out back in July shortly after the first one was received. Yet here I am still receiving them deposits every month since. Logged back into the system to check again - still says I've opted out. What's the deal with that?
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
DannyDuberstein
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The deal is that we have the most bloated and incompetent organization in the history of the world, the US Govt, doing it.
Fightin_Aggie
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Decay said:

Cash them all, invest, then give it back and thank the government for the free loan. Uh, and then pay taxes on the profit. Sh-t
I have no confidence that I can invest $300/month then be forced to withdraw a short few months later and make any money

So I guess I wouldn't have to worry about taxes on the profit. Could I count the loss against earnings?

Course I will still have to pay back the original amount in full. Ugh that would suck
The world needs mean tweets

My Pronouns Ultra and MAGA

Trump 2024
Decay
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Fightin_Aggie said:

Decay said:

Cash them all, invest, then give it back and thank the government for the free loan. Uh, and then pay taxes on the profit. Sh-t
I have no confidence that I can invest $300/month then be forced to withdraw a short few months later and make any money

So I guess I wouldn't have to worry about taxes on the profit. Could I count the loss against earnings?

Course I will still have to pay back the original amount in full. Ugh that would suck

Obviously don't do it if that's all you have. More like, if you're interesting 10k, then you can afford to bump it up by a few hundred each month. If it goes away that sucks but you're not feeling a kidney or anything. And if it grows you just earned extra for free.
Bird Poo
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I'm buying silver with my free money.
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