The money, stolen from our grandkids and great-grandkids without their knowledge or consent, is being used in an attempt to buy votes. It will not buy mine.
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Biden might qualify as the most generous POTUS in American history. His largesse did not stop with American citizens like myself:
Confused Japanese Citizens Receive Stimulus Checks From Biden’s COVID-19 Relief Package
Surprise in the mail: The recipients, noncitizens who once lived in America but left a long time ago, posted online that they were surprised to receive stimulus checks from the U.S. Treasury
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A 79-year-old man and his wife in Kanagawa Prefecture received the checks from the U.S. Department of the Treasury back in April, each containing $1,400 (152,000 yen).
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The man first thought the checks were from his U.S. Social Security benefits. He had paid Social Security taxes while he was stationed in the U.S. from 1978 to 1983.
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However, a friend told him that the check is part of Biden’s stimulus package and suggested that he might be able to cash it.
Read the full story here:
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I agree that the handouts claimed to boost the economy is just a poorly disguised scheme to buy votes. Trump wanted $2k checks and only got $600. Biden was all too happy to oblige with $1400 difference. Shameful and wasteful from both administrations.
But the theft is a bit overplayed. The money is not going to recipients and disappearing completely. It should eventually trickle from the recipients to their heirs albeit in a very indirect and delayed fashion. I think the better analogy would be a massive wealth redistribution. Cost is spread across society equally in form of inflation. Money simply flows indirectly from people who do not receive checks to those who do. Just a more sneaky way to change how progressive the tax laws are without actually doing a tax reform.
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New Wave Stimulus checks coming up middle of July.
Sorry, thank it will only be for families with children.
Will many quality on this site?
Are you referring to the increased child tax credit or something else ?
Yes has to be the anticipated child tax credit. Hopefully getting it early won’t throw off people who expect a refund on their 2021 taxes next year.
It would also throw off people who already adjusted their payroll withholding to account for the full child tax credit. I’m gonna have to send that money right back. Extra MS!
Hopefully they add all these automatic credit payments into the tax underpayment calculations. Else they would end up penalizing people who would not have underpaid without the credits being shoved down their throats 
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I was thinking the same. For people with 3-4 kids, it could easily result in large underpayments where they adjusted their withholding to get a small refund. You’d hope the system will take it into account but considering how the IRS sent stimulus checks to non-americans living overseas, I wouldn’t count on it if I was getting those checks.
I can’t tell if you’re being facetious/sarcastic, or not. Are the credits really shoved down their throats? Are taxpayers forced to take credits that would harm them?
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I.e., if you qualify, you’ll get an advance credit of up to $300/mo, probably the same way as the pandemic assistances/stimuli – via direct deposit or debit card, depending on whether you owed or got a refund on your most-recently processed federal tax return.
I’m being partially sarcastic. I’m sure plenty of people may benefit from getting these payments sooner rather than later. But the few who pay and understand taxes and can adjust withholdings are forced to take the credits they don’t really need (because they can simply “take” them with reduced withholdings).
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I’m usually adjusting my withholding so that I don’t give the IRS a free loan with my money and end up owing a small amount in April (just under $1k or so). When we had 3 child tax credits worth about $6k, getting 50% of these credits early would mean I underpaid my taxes by $3k more than usual and could get hit with penalty. Now according to the law, you can opt out of receiving the 50% of your child tax credits early so maybe I would do that to keep things simple. But unless there is a provision I missed, I think it could easily trip some taxpayers who don’t realize the consequences of getting these credits early.
The other more simple case is simply households getting used to the extra money and ending up owing money on their 2021 taxes rather than getting their traditional refund. Nasty surprise even if they avoid any tax underpayment penalty.
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Holy cow! All I got was an extra deduction … might’ve had more chillens if they would’ve paid me. 
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Maybe you can adopt someone on this site 
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My son also got $1400 in error. But it’s a long story.
- We didn’t put him on our tax return because it will give us $0 benefit.
- He filed with turbotax and answered one question wrong (can you be claimed as dependent?) He understood it as “are you claimed as a dependent?”).
- He got $1800.
- We realized this error and filed and 1040X and returned $1800.
- But 1040X takes a few months to be processed.
- Before it is processed, he got $1400 deposit.
Now, what to do in this case?
My son is a full time college student and did have W2 income in year 2020.
The ship has sailed at this point, but you probably should’ve just let it be. A college aged adult with income isn’t going to raise a flag as being a dependent, and if he happened to get audited to the point it was uncovered he had a legit misunderstanding.
I’d say at this point all you can do is wait, and be prepared to return the $1400 if anyone ever comes asking for it.
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I agree with @glitch99. I wouldn’t have advised you to file the 1040X. Some college aged kids are dependents and some aren’t. There wouldn’t have been any red flags on his return for claiming himself. But I understand your concern since 2019 and 2020 are the only years where it’s more likely a bigger benefit for parents not to claim older kids as dependents because of the “stimulus” payments. However, I don’t think the IRS will be doing much enforcement to take money back from the millions of young adults that would have, in any other non-covid years, been claimed as dependents, but weren’t for “stimulus” purposes. I could be wrong. But I just don’t see it happening.
Kudos to you and your kid for doing the most honest thing though.
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I’m reminded of the Will Rogers/Groucho comment of not wanting to adopt anyone who would have me as a parent (very loosely paraphrased, but with the same intent).
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Agree
Strongly agree
I myself am remaining quiet. If they come for their $1400, I will surrender the money readily, quickly, and without protest. But I certainly will not be mentioning that $1400 on any of my tax filings.
Keep your head down. Let it be. Let sleeping dogs lie.
And so they did:
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