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Tamara
November 13th 03, 07:32 PM
Hello

I'm confused about how the child tax credit will work on the 2003
tax forms. I received a prefund. Will I still be eligible for the
$600-per-child credit or is it subtracted from that? Anyone know?

Thanks for any info

Tamara

Dizzysmamma
November 13th 03, 09:43 PM
"Tamara" > wrote in message
...
>
> Hello
>
> I'm confused about how the child tax credit will work on the 2003
> tax forms. I received a prefund. Will I still be eligible for the
> $600-per-child credit or is it subtracted from that? Anyone know?
>
> Thanks for any info
>
> Tamara

If I read it right, those of us who received the advance are still eligible
for the full $600 credit. I will, however, go back to the IRS site and
reread it just to make sure.

Angela

Dizzysmamma
November 13th 03, 09:54 PM
"Tamara" > wrote in message
...
>
> Hello
>
> I'm confused about how the child tax credit will work on the 2003
> tax forms. I received a prefund. Will I still be eligible for the
> $600-per-child credit or is it subtracted from that? Anyone know?
>
> Thanks for any info
>
> Tamara

This is what I found:

12. If I receive the advance Child Tax Credit payment will I get a smaller
refund than last year?

Assuming your income and number of qualifying children remain the same, your
2003 refund shouldn’t be smaller than your 2002 refund because of your
advance payment. That’s because the advance payment is the same amount as
the increase in the value of the credit. The law simply gives you this
increase now, rather than having you wait until next year for a bigger
refund. When you figure the Child Tax Credit on your 2003 return, you will
subtract the amount of your advance payment check from the $1,000-per-child
total, generally leaving you with the same $600-per-child credit that you
had in 2002.



Angela

Pegster
November 13th 03, 09:57 PM
"Dizzysmamma" > wrote in message
news:92Ssb.141861$275.429253@attbi_s53...
>
> "Tamara" > wrote in message
> ...
> >
> > Hello
> >
> > I'm confused about how the child tax credit will work on the 2003
> > tax forms. I received a prefund. Will I still be eligible for the
> > $600-per-child credit or is it subtracted from that? Anyone know?
> >
> > Thanks for any info
> >
> > Tamara
>
> If I read it right, those of us who received the advance are still
eligible
> for the full $600 credit. I will, however, go back to the IRS site and
> reread it just to make sure.
>
> Angela
>
>

I believe that's correct, too. The $600 is an advance on your 2003 refund.
You'd file as you normally would, the IRS just sent a portion of the refund
early.

Take care, Peggy

JanetD
November 14th 03, 07:27 PM
In article >,
says...
>
> Hello
>
> I'm confused about how the child tax credit will work on the 2003
> tax forms. I received a prefund. Will I still be eligible for the
> $600-per-child credit or is it subtracted from that? Anyone know?
>
> Thanks for any info
>
> Tamara
>

I had this bookmarked:

Child tax credit checks should arrive soon - if you qualify
http://www.usatoday.com/money/perfi/columnist/block/2003-07-28-
ym_x.htm

Here's the important part: "Don't throw the notice away. You'll
need it when you file your 2003 returns, says Charles Petz, vice
president of TaxBrain. Your 2003 tax returns will include a
worksheet where you'll be asked to reduce the $1,000 child tax
credit by the amount of your advance payment."

And here's some related good news from the Yahoo news board today:

Tax refunds expected to jump 27%
http://story.news.yahoo.com/news?tmpl=story&cid=676&e=5
&u=/usatoday/20031114/ts_usatoday/11952445

kat
November 18th 03, 08:44 PM
"Tamara" > wrote in message
...
>
> Hello
>
> I'm confused about how the child tax credit will work on the 2003
> tax forms. I received a prefund. Will I still be eligible for the
> $600-per-child credit or is it subtracted from that? Anyone know?
>
> Thanks for any info
>
> Tamara

Aww... My child tax credit is peanuts compared to that.

Rhonda
November 20th 03, 01:20 AM
Just curious....Is that $600 for the year? I'm a Canadian and just curious.

Dizzysmamma
November 20th 03, 02:48 AM
"Rhonda" > wrote in message
om...
> Just curious....Is that $600 for the year? I'm a Canadian and just
curious.

Yep.

Angela

CME
November 20th 03, 05:43 AM
"Dizzysmamma" > wrote in message
news:I3Vub.188133$mZ5.1367456@attbi_s54...
>
> "Rhonda" > wrote in message
> om...
> > Just curious....Is that $600 for the year? I'm a Canadian and just
> curious.
>
> Yep.
>
> Angela
>
$600 for the year??? Holy crap. I get $461 a month for 2 children. Then
again, I don't get any child support, I wonder if that's taken into account
in the governments calculation.

Christine

Dizzysmamma
November 20th 03, 06:16 AM
"CME" > wrote in message
news:dEXub.63695$1K.14028@edtnps84...
>
> "Dizzysmamma" > wrote in message
> news:I3Vub.188133$mZ5.1367456@attbi_s54...
> >
> > "Rhonda" > wrote in message
> > om...
> > > Just curious....Is that $600 for the year? I'm a Canadian and just
> > curious.
> >
> > Yep.
> >
> > Angela
> >
> $600 for the year??? Holy crap. I get $461 a month for 2 children. Then
> again, I don't get any child support, I wonder if that's taken into
account
> in the governments calculation.
>
> Christine
>
Its a once a year tax credit and if I read the passage right its actually
$1000US and what you're supposed to do is subtract the amount of the advance
from that amount and that is what your credit would be for the year. I know
that for those who qualify for EIC - Earnd Income Credit, there is a form
they can file to have that split up over the year but I don't believe it can
be done for the Child Tax Credit. Many people received an advance on the
CTC due to the slow economy. We did and it payed the electric bill for that
month.
There are also those who receive Aid to Families with Dependent Children
which is basically welfare but it has to be paid back. Usually by the
non-custodial parent.

Angela


>

Joelle
November 20th 03, 11:57 AM
>$600 for the year??? Holy crap. I get $461 a month for 2 children. Then
>again, I don't get any child support, I wonder if that's taken into account
>in the governments calculation.

That's a refund of taxes you have already paid. It's not a support payment of
any kind.

Joelle
The world is a book and those who do not travel read only one page - St
Augustine
Joelle

CME
November 20th 03, 11:41 PM
"Joelle" > wrote in message
...
> >$600 for the year??? Holy crap. I get $461 a month for 2 children. Then
> >again, I don't get any child support, I wonder if that's taken into
account
> >in the governments calculation.
>
> That's a refund of taxes you have already paid. It's not a support
payment of
> any kind.
>
> Joelle
> The world is a book and those who do not travel read only one page - St
> Augustine
> Joelle

I don't pay any taxes (well besides GST), I'm a student.

Christine

Joelle
November 21st 03, 02:32 AM
>I don't pay any taxes (well besides GST), I'm a student

Then you would not get the refund.

Joelle
The world is a book and those who do not travel read only one page - St
Augustine
Joelle

CME
November 21st 03, 04:27 AM
"Joelle" > wrote in message
...
> >I don't pay any taxes (well besides GST), I'm a student
>
> Then you would not get the refund.
>
> Joelle
> The world is a book and those who do not travel read only one page - St
> Augustine
> Joelle

I only get a GST refund.

Christine

Rhonda
November 21st 03, 08:47 AM
"CME" > wrote in message news:<dEXub.63695$1K.14028@edtnps84>...
> "Dizzysmamma" > wrote in message
> news:I3Vub.188133$mZ5.1367456@attbi_s54...
> >
> > "Rhonda" > wrote in message
> > om...
> > > Just curious....Is that $600 for the year? I'm a Canadian and just
> > curious.
> >
> > Yep.
> >
> > Angela
> >
> $600 for the year??? Holy crap. I get $461 a month for 2 children. Then
> again, I don't get any child support, I wonder if that's taken into account
> in the governments calculation.
>
> Christine

That's what I was thinking, Christine. I have EXACTLY the same
situation as you. I have two kids, get $461.21 per month and I also
get no child support. I just figured the difference was because
Canada is different.

Rhonda
November 21st 03, 08:49 AM
"CME" > wrote in message news:<dEXub.63695$1K.14028@edtnps84>...
> "Dizzysmamma" > wrote in message
> news:I3Vub.188133$mZ5.1367456@attbi_s54...
> >
> > "Rhonda" > wrote in message
> > om...
> > > Just curious....Is that $600 for the year? I'm a Canadian and just
> > curious.
> >
> > Yep.
> >
> > Angela
> >
> $600 for the year??? Holy crap. I get $461 a month for 2 children. Then
> again, I don't get any child support, I wonder if that's taken into account
> in the governments calculation.
>
> Christine


Oops...no, that's 421.23...I was a little off...but still a lot
different than $1200 a year!

CME
November 21st 03, 04:40 PM
"Rhonda" > wrote in message
m...
> "CME" > wrote in message
news:<dEXub.63695$1K.14028@edtnps84>...
> > "Dizzysmamma" > wrote in message
> > news:I3Vub.188133$mZ5.1367456@attbi_s54...
> > >
> > > "Rhonda" > wrote in message
> > > om...
> > > > Just curious....Is that $600 for the year? I'm a Canadian and just
> > > curious.
> > >
> > > Yep.
> > >
> > > Angela
> > >
> > $600 for the year??? Holy crap. I get $461 a month for 2 children.
Then
> > again, I don't get any child support, I wonder if that's taken into
account
> > in the governments calculation.
> >
> > Christine
>
>
> Oops...no, that's 421.23...I was a little off...but still a lot
> different than $1200 a year!

I just looked at my bank account and it's $416.91 Weird, so I was getting
more LAST year. :( Ah well, it's a nice little sum to get in the middle of
the month.

Christine

kat
November 21st 03, 07:34 PM
"Rhonda" > wrote in message
om...
> "CME" > wrote in message
news:<dEXub.63695$1K.14028@edtnps84>...
> > "Dizzysmamma" > wrote in message
> > news:I3Vub.188133$mZ5.1367456@attbi_s54...
> > >
> > > "Rhonda" > wrote in message
> > > om...
> > > > Just curious....Is that $600 for the year? I'm a Canadian and just
> > > curious.
> > >
> > > Yep.
> > >
> > > Angela
> > >
> > $600 for the year??? Holy crap. I get $461 a month for 2 children.
Then
> > again, I don't get any child support, I wonder if that's taken into
account
> > in the governments calculation.
> >
> > Christine
>
> That's what I was thinking, Christine. I have EXACTLY the same
> situation as you. I have two kids, get $461.21 per month and I also
> get no child support. I just figured the difference was because
> Canada is different.

I get $211.16 for one, and absolutely no child support, even though I should
be getting it because it's court ordered a year ago last Oct... I don't
think that the child tax credit has anything to do with child support, but I
could be wrong. I get the GST rebate as well, and can't remember how much
that is.

kat
November 21st 03, 07:35 PM
"kat" > wrote in message
news:ZEuub.84968$jy.45418@clgrps13...
>
> "Tamara" > wrote in message
> ...
> >
> > Hello
> >
> > I'm confused about how the child tax credit will work on the 2003
> > tax forms. I received a prefund. Will I still be eligible for the
> > $600-per-child credit or is it subtracted from that? Anyone know?
> >
> > Thanks for any info
> >
> > Tamara
>
> Aww... My child tax credit is peanuts compared to that.
>
>

My bad...

kat
November 22nd 03, 12:16 AM
"Nan" > wrote in message
...
> On Fri, 21 Nov 2003 18:34:46 GMT, "kat" > wrote:
>
> >I get $211.16 for one, and absolutely no child support, even though I
should
> >be getting it because it's court ordered a year ago last Oct... I don't
> >think that the child tax credit has anything to do with child support,
but I
> >could be wrong. I get the GST rebate as well, and can't remember how
much
> >that is.
>
> You're correct... the child tax credit is unrelated to child support
> in the US. The child tax credit is nothing more than a tax break for
> families to reduce the amount of income tax that we have to pay every
> year. Everyone with dependent children received an "advance" in the
> form of a check, from the IRS, but that amount will be deducted from
> the credit when filing our 2003 income taxes.
>
> Nan
>

Child tax credit, here anyways, is based on income, so, I found out, it is
related to all income, be it from working, disability, welfare, child
support, etc. If a parent currently gets x amount for their x amount of
children from the child tax benefit, they make a gross income under a
certain amount. Let's say, since I'm not good at explaining things, you
have sole custody of your child, and the non custodial parent pays child
support. If that alimony paying parent, let's say, pays $100 a month, and
let's say you make a total income of $1000/month, then you'd qualify for the
child tax credit because, here anyways, a total of $1100/month total income
isn't high enough to not get the child tax credit. Now, if you make
$1000/month, and your child's mother/father pays $3000/month for child
support, then you have a total income of $4000 a month, and make enough
income to not receive the CTC. So, to my understanding, child support does
play a role, but in most cases, I feel safe enough to assume the majority of
child support paid is not THAT high, although I know it does happen.

Ok, maybe that made no sense. I don't really want to read what I said
because I'm sure I'll be editing until the cows come home.

DeliciousTruffles
November 22nd 03, 12:47 AM
Nan wrote:

> This is Canada?

telus.net is Canadian.

--
Brigitte aa #2145
edd #3 February 15, 2004
http://www.babiesonline.com/babies/j/joshuaandkaterina/

"Readers are plentiful; thinkers are rare."
~ Harriet Martineau

kat
November 22nd 03, 12:51 AM
"Nan" > wrote in message
...
> On Fri, 21 Nov 2003 23:16:07 GMT, "kat" > wrote:
>
> >Child tax credit, here anyways, is based on income,
<snip>

>
> This is Canada?
<snip>

Ah, thought I said that somewhere... But yes, this is in Canada. When I
say, "Here anyways" it's always safe to assume I speak of Canada.