Fast Facts for June 22, 2021
If you qualify and you want to opt out of the monthly child tax credit, the portal to do that is *up*.
The *only* thing you can do on that portal at this point is opt out, view your eligibility, and see how much your monthly payment will be.
As I told you in part one of my child tax credit q and a series, you will *eventually be able to update your mailing address, your bank account information, add or subtract the number of qualifying children because of a child who was born or adopted in 2021, update your marital status and report a change in your income. But those options won’t be available until later in 2021.
The first child tax credit monthly payment will begin on July 15th and if you qualify, you will receive that payment by direct deposit or paper check depending on what banking information the IRS has for you.
To know if you or your child will qualify, please go watch part 6 of my child tax credit q and a series.
And please – if you don’t qualify and somehow get the monthly payments because the IRS is going off of old information, opt out of the monthly payments otherwise you *will* have to pay that money back.
The opt out portal is available at irs.gov/childtaxcredit2021. You will have to create an account if you don’t already have one.
Child tax credit update portal here.
Child tax credit eligibility tool here.
PLUS
It looks like there will be another congressional investigation into the attack on the capitol on January 6th.
Yes – even though the legislation to create a bipartisan 9-11 style commission failed last month.
The House Speaker just announced to a group of Democrat leadership that she *is* creating a house “select committee” to fully investigate what happened on that day and the root cause of it.
Select committees are formed for a specific purpose outside of the normal committee assignments that lawmakers have.
You may remember a few years ago when republicans created a select committee to look into what happened in Benghazi. You probably saw endless hearings and interrogations on television…and even former Secretary of State Hillary Clinton sitting in the hot seat testifying for hours.
Well, this will probably be very similar. But instead of Republicans at the helm…as they were last time, Democrats will be in charge.
The details of who will sit on this committee, the duties and powers of the committee and who will be called to testify will be released in the coming days and weeks.
