Advanced Child Tax Credit

[Mouth of the South (wishing)]

How are they figuring out who gets this? If you read the IRS' press release it leads you to believe that as long as your child tax credit for 2002 exceeded $600 you will receive a check. This applies to me. However, when I put my information in their website to check the status, it says I'm not eligible because of the amount of my tax liability.

However, my sister in law IS eligible and she had the same tax liability as I did, same taxable income, only she's married and I'm not.

I don't get it.

[KeliKK]

what is the web site you looked at ?

[frostbyte]

The website is www.irs.gov

[1down1togo]

The IRS has posted a considerable amount of information regarding this subject on its web site, www.irs.gov for anyone interested in obtaining additional information.

[mommy of twins]

I did that thing to check the status of it and it just told me that IF I DO qualify, it will be mailed august 1st.. DUH I knew that. I just want to know if I qualify.. some people say I will and some say I wont.

[frostbyte]

Hey mommy...are u putting 3 in for the total amount of exemptions? that would be for you and your 2 girls? i did it wrong the first time and only put 1 for my son and didn't add me and my husband...duh...just a thought.

[mommy of twins]

well, frost, I cant claim myself yet since Im only 23. I dont get a credit for me.

[Babygirl78]

"Generally, you’re eligible if you claimed the child tax credit on your 2002 tax return and your qualifying child was born after 1986. The IRS will send you a notice of your advance payment amount a few days before your check is mailed."

[frostbyte]

Didn't know that sorry....I thought u could claim yourself as long as u work full time and are of legal age.

[mommy of twins]

yeah frost, I used to think that until I found out that you have to be 25 i think it is... maybe 24.. but I think 25.

[frostbyte]

Wow...learn something new all the time...Is that for the state you live in? Just curious because I have been claiming myself since I was 18...all this tax stuff confuses the crap out of me.

[Mouth of the South (wishing)]

I too have claimed myself since I was 18 and so does everyone else I know...I mean, nobody paid my bills when I was 18 so heck yeah, I claimed myself. I don't know how state taxes work, as Florida doesn't have any, but as far as federal taxes go, the law are universal and don't vary by state.

[mommy of twins]

No, I do claim myself. But I dont get exemptions or credits for myself. Its Federal, Texas doesnt have a state income tax to file.

[boomer sooner]

Mer..is your dad or someone else claiming you as a dependant?? If not you should be able to claim yourself, I have been since I was 19.

[mom_of_5]

If you are getting money back when you put your information in on the left side of the screen it will tell you how much you are getting and when they are sending it. My refund is to be sent out on July 25, and they did not send us anything saying it would be sent out.

[mommy of twins]

hellllllllllooooooooo michelle. I DO claim myself.. I just CANT get a credit for myself until im 25.

[KeliKK]

I claimed head of household.
I have one child. I am 31 yrs old, I recieved no child support last year.
i did one exemption and one child dependant.
i input my info and it said IF YOU QUALIFY you will get a refund... whatever...

[boomer sooner]

are ya gettin smart young lady??? I know what you are saying but what I am saying is why don't you get the credit/exemption for yourself?? who told you that you had to be 25?? I have always claimed myself and got the credit/exemption for myself since I was 19. DO you have a CPA do your taxes?? I have always done my own and taken them to a tax preparer to send the in electronically, it's cheaper and they still tell you if you have mistakes because it won't let them submit it until you have corrected it. The past 2 years I have done then over the internet myself but before I was 25 the always let me have the credit for myself.

[boomer sooner]

[ July 22, 2003, 11:06 PM: Message edited by: boomersooner ]

[boomer sooner]

I just checked mine, it said i'm not gettin it...that s@cks but I already knew it anyhow.

[1down1togo]

See if this helps you understand more whether you'd qualify or not. Check out your 2002 tax return after you read this.

New Law's Tax Cuts Mean Extra Cash Now

One good thing about the tax cuts in the new law is that most people won't have to wait long to start seeing the savings. Employers have generally lowered the amount of federal tax withheld from their workers’ paychecks, reflecting lower tax rates for most people and a larger standard deduction for married couples. The Treasury is mailing checks to most people who claimed the Child Tax Credit last year, as an advance payment of the credit’s increase. If you claimed this credit on your 2002 tax return, you may be eligible for up to $400 for each qualifying child. That’s the difference between the old maximum credit of $600 and the new amount of $1,000.

You do not have to do anything to get these benefits. Your employer adjusts your paycheck withholding based on the W-4 form you had on file. The IRS will figure if you’re entitled to any advance Child Tax Credit payment and have it sent straight to your mailbox – automatically! You don’t have to call, apply or fill out another form.

Some other changes aren’t so automatic, but could also mean extra money in your pocket. Lower tax rates for long-term capital gains and qualifying dividends may allow you to reduce your estimated tax payments for the rest of the year. An increase in the Alternative Minimum Tax exemption may insulate you from that computation. Business owners may claim larger first-year depreciation allowances and Section 179 expensing amounts.

[mommy of twins]

yeah Michelle.. I even worked for Jackson Hewitt for 2 years. I was with my boyfriend at the time.. He could get it, he was 24 or 25 then I dont remember. This was before I had the girls. Maybe things have changed since then?

[debalexis]

Oh mer...I think they all just care about you.

Ya think?

Have a good day guys!

[Stayingstrong]

OK someone clue me in here. I have been recieved earned income credit for the last I don't know how many years. I am 29, married, with 3 kids, does 3 dogs count(just kidding) Tammy