House passes bipartisan tax bill that expands child tax credit

[RazorLeaf]

front page of CNN right now.

Can someone explain what this means for the taxes we are all dealing with right now (2023 year)

[Cinnamon]

Probably nothing right now. It still has to clear the senate and it’s looking iffy.

But what might happen if it does pass? They haven’t said so yet, but I suspect they’ll do it the way they did a few years ago, they sent all qualifying taxpayers a payment by direct deposit if you used it for your tax refund, or paper check otherwise, similar to the way they did with the covid stimulus checks.

I guess we’ll see–that sure would be a nice little surprise!

[Skittlezzz]

My question is… am I in the test batch?? I filed 1/14 accepted 1/15. I am Path. Transcripts… my as of date is 02/19 & do is my processing date. I’m normally a weekly but this year my cycle code is 0503 so yayyyy I’m daily this year. 2 of my transcripts were available last week. Now all 4 are available as of yesterday Wednesday 01/31 which is right on schedule as cycle code 0503 is a Wednesday update. I have codes 150, 766 & 768. WMR gave me the Path message yesterday as well.

[Amanda]

I have an adjustment of 2300 added to my credits in my transcripts and 3 of 4 are available online now it seems I will receive 02/19 processing date instead of 02/12 which was my as of date last week. I have codes 150 tax due , 766 the new ACTC credit I wasn’t expecting and 768 my original credit amount. My cycle is 20240503. My address updated on my transcript and it says Feb 1 2024 $0 due when i log in online. I filed TT paid fees upfront and did not apply for advance loan.

[Author]

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