Updated: Jul 14, 2021
If you don't want the government handout of your child tax credit starting in July, there is a way to opt out. Instructions on how to opt out will be available at the end of June (we will update this post with those instructions as soon as they are available).
BEWARE: If you choose to receive your payments monthly, be aware that you will not get your child tax credit when you go to file next year for 2021 taxes. This is going to surprise a lot of people. Many people use that child tax credit as a buffer to offset some small business and 1099 income.
In some cases, your tax refund may be just this child tax credit. If you do not opt out and take the payments which start in July, you may actually end up owing money.
Call your accountants!
Important considerations: If you make under 150k a year (married), you will get 300 for kids under 6 and 250 for kids 6-17, starting in July going thru December. It may sound nice but, the tax burden at year end could cause you some problems. Also, conservatives in general should reject this. This is going to be the basis for universal basic income - basically a handout for just being alive and we don't want that.
Another way of thinking about it is, he who holds the purse strings, hold the control.The Feds do not need anymore control than they have already stole. We the People need to take back control and reduce the Feds back to down to the size they were given in the Constitution of the United States of America found in Article 1 Sec. 8 in the last two clauses. (Look this up, it is worth it!)
Some quotes to think about while considering the above...
“No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.”
— U.S. Constitution, Article I, section 9, clause 7
“Give me control of a nation's money and I care not who makes the laws.”
“World events do not occur by accident. They are made to happen, whether it is to do with national issues or commerce; and most of them are staged and managed by those who hold the purse strings.”
― Denis Healey
This is on the IRS website, you must un-enroll each month!
Must go to the IRS website to un-enroll, you also have a verified ID to get on there. Unfortunately, we do not know how to get the verified ID at this time.
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