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Anyone opting out of the Child Tax Credit monthly payments?


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31 minutes ago, teachermom2834 said:

Has anyone had the credit show up in their bank account yet? Was it supposed to start today? (The 15th)? I don’t have it in my account. We attempted to opt out but I didn’t do it, just dh, so I think we didn’t really opt out. 
 

Doesn’t really matter. I’m just curious. We got all the stimulus payments on the first day they were supposed to be deposited so I wondered. 

It is in ours. Has your 2020 return been processed yet? My brother didn't get his money deposited today but his return has also not been processed yet

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27 minutes ago, hjffkj said:

It is in ours. Has your 2020 return been processed yet? My brother didn't get his money deposited today but his return has also not been processed yet

 

Just now, East Coast Sue said:

I didn’t opt out but didn’t get the money today 

Same for us.  Our return has not processed and we didn't get the tax credit yet either.

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1 hour ago, teachermom2834 said:

Has anyone had the credit show up in their bank account yet? Was it supposed to start today? (The 15th)? I don’t have it in my account. We attempted to opt out but I didn’t do it, just dh, so I think we didn’t really opt out. 
 

Doesn’t really matter. I’m just curious. We got all the stimulus payments on the first day they were supposed to be deposited so I wondered. 

 

46 minutes ago, skimomma said:

Ugh.  We have been trying to opt out.  The website is terrible.  Our only is turning 18 next month so we are not eligible and will have to give it all back at tax time.

I got it this morning. I was happy to see our soon to to be 18 yo (3 more weeks to go) was not included in the amount sent.

 

eta: I did not have plans to opt out for our other two (both under 17). I've been in a wait and see mode. If we had received an amount for the soon to be 18, then I would have started the process to opt out for them.

Edited by Elfknitter.#
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1 hour ago, teachermom2834 said:

Has anyone had the credit show up in their bank account yet? Was it supposed to start today? (The 15th)? I don’t have it in my account. We attempted to opt out but I didn’t do it, just dh, so I think we didn’t really opt out. 
 

Doesn’t really matter. I’m just curious. We got all the stimulus payments on the first day they were supposed to be deposited so I wondered. 

No, and I’m somewhat concerned because we had someone steal our third stimulus payment by changing the account number for direct deposit.  We just got that straightened out (we think) so I’ve been worried that future direct deposits would also be diverted.

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12 minutes ago, Elfknitter.# said:

 

I got it this morning. I was happy to see our soon to to be 18 yo (3 more weeks to go) was not included in the amount sent.

 

eta: I did not have plans to opt out for our other two (both under 17). I've been in a wait and see mode. If we had received an amount for the soon to be 18, then I would have started the process to opt out for them.

So if a child turns 18 this year then they won't be included in the credit.  Is that correct?  

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1 hour ago, teachermom2834 said:

Has anyone had the credit show up in their bank account yet? Was it supposed to start today? (The 15th)? I don’t have it in my account. We attempted to opt out but I didn’t do it, just dh, so I think we didn’t really opt out. 
 

Doesn’t really matter. I’m just curious. We got all the stimulus payments on the first day they were supposed to be deposited so I wondered. 

Ours hasn't shown up yet.  All of our stimulus money has always shown up okay, but this year we had to pay instead of getting a refund, so I hope that didn't mess things up.

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4 minutes ago, Loowit said:

Ours hasn't shown up yet.  All of our stimulus money has always shown up okay, but this year we had to pay instead of getting a refund, so I hope that didn't mess things up.

We have been owing Federal for the past few years. We aren't entitled to any stimulus money due to income bracket but the child tax credit did show up this morning. Its probably a batch job to deposit the child tax credits so yours would probably show up later today.

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1 hour ago, hjffkj said:

It is in ours. Has your 2020 return been processed yet? My brother didn't get his money deposited today but his return has also not been processed yet

Yes, Our return was already processed.  I checked again and it didn't show up today. Interested to see. 

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2 hours ago, historically accurate said:

Correct. It's for ages 0-17 (age as of Dec 31). 

 

We got ours this morning in our bank account. 

Thanks for this info. We were wondering. I was a little afraid we'd end up having to make some corrections by them sending too much and our having to return some, etc. Didn't want the hassle.

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I checked my bank account this morning, and it still wasn't there, so I checked with the IRS site and for some reason they mailed a check or card to my address on file.  I am not sure why, we have always done direct deposit since they started doing it.  Our stimulus payments all went to our bank account.  The only thing I can figure is because we paid this year instead of getting a refund, maybe.  Anyway, I got it changed to go to direct deposit in the future.

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I wish they had some system where it was easy for people to opt out and have theirs instead contributed to a fund to help kids in poverty, which is what it is intended for (without a tax penalty at the end of the year if they would have owed it back how they excepted it). Whether it be food, education, housing, whatever. We’re fine, so it never feels right when we receive these payments.

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