Oh, like this won’t have consequences. Wondering how many on this thread are reading the fine print.
April...
Gov’t: “Here’s a free $300 every month!”
Peon: “Oh wow! Thanks! I’ll ensure I can’t live without it!”
Next April, 12 $300 payments later...
Gov’t: “Here’s how much you owe in taxes.”
Peon: “WTF!?!? I owe $3600 more than last year? F***** $#!^, I don’t have that kind of money laying around, ... wait, what happened to the Child Tax Credit?”
Gov’t: “We gave it to you, every month, over the last year.”
Peon: [slack-jawed stare]
Watch them attach a “tax forgiveness” clause to some other legislation before people pay taxes next year.
Right theory but wrong pew....they INCREASED the credit so they are getting the credit increase now. So, their tax, if they pay any, amount stays the same.