for those waiting on the IRS check

[tkme4ard]

the last time I checked (friday) it said the same thing for mine. I was suprised to see it changed to the ammount today. Make sure your putting int he correct exemptions

angela

 

[Jasminesmommy]

aNOTHER THING TO DO IS EXEMPTION MAKE SURE YOU PUT TOTAL # IN HOUSEHOLD. i ONLY PUT KIDS FIRST AND GOT THE "IF YOU QUALIFY" MESSAGE. tHEN i ADDED MY HUSBAND AND SELF AND GOT MY $800.00 ANSWER FOR THE 2 KIDS. bAD THING IS i STILL OWE THE irs FOR THE 2001 YEAR SO i WILL NOT BE SEEING THIS BUT IT IS STILL LESS i HAVE TO PAY THEM.

 

[kaseyC]

Just found out we are getting $800 back in August. Unfortunately, DD #3 was just born in April so we get nothing for her. I am hoping the check will be here before Aug. 17th then we can add it to our WDW Spending money Fund.

 

[DisneyEnthusiastic]

Mine is to be mailed out this Friday...$1200!! Hope it comes before I leave for my trip It makes is almost like a free trip.

 

[bigsis1970]

Ok fixed my exemptions and am scheduled to get $400 back to be mailed Aug1st !!! Yea just in time for school shopping Michelle

 

[lauraljp]

Same as Mike J. Ours did not come up under DH's SS# but it did under mine.

$1600 coming on July 25.

I knew those kids were good for something--hehe



Laura

 

[LoriZH]

lol, I did mine and it came up "if you are qualified" THEN I looked to the left of the page and there was the information! I don't understand how I am only getting back a small amount when I have four kids all born AFTER 86!

Hmmm...

 

[lindabacker]

OK a little worried now, just taked to the IRS, I am getting my refund, mailed out on the 25th, but she said to allow two weeks to receive it, that would be ok and hopefully 'I will get it within 13 days since day #14 I will be on my way to Disney. I was looking forward to having the extra money to help make this a more fun trip, maybe add US/IOA to the ittenerary, etc. Oh well I'll just be thankfull I am getting one and not worry over the but what if's.

 

[maggiew]

Can someone please explain what this extra $800 will do to our tax bill when we file this year? We usually owe some money and I am wondering if we will now owe more because of this??? (To clarify, we usually owe money even with the normal child credit, so if we don't get the child credit later when we file will we owe more?)

Maggie

 

[Karel]

I'll get mine just in time....to pay my property tax. How exciting is that. Would rather use it for a cruise.

 

[EthansMom]

I believe I read someplace that you also have to have claimed the Child Tax Credit on your 2002 taxes in order to get the check. (For instance, how would the IRS know if you had a baby in January of 2003?)

We don't qualify. But I knew that, so not unhappy.

EthansMom

 

[disneychrista]

I am not sure if this has been answered I am too lazy to go through all the posts. But if you are filed jointly with your spouse, make sure the SS# you enter is that of the person listed first on your return. If you are coming up "if you qualify" try your spouses SS# and double check your filing status and # of exemptions from your 2002 return.

 

[disneychrista]

Originally posted by maggiew
Can someone please explain what this extra $800 will do to our tax bill when we file this year?

If you make the about the same year to year, then this year you will owe the same amout as you have in previous years. They have increased the CTC and that is what you will be getting, the increase that would have been on this years tax return. But when you file your 2004 tax return the amount you owe should be less, if you still qualify for the same amount of tax credit (kids still 17 & under) and you make the same amount.

 

[Jasminesmommy]

This refund is like the last one in 2001. You are getting it early so yes if you owe you will likely owe more so save it if possible. and if you still owe you will not recieve it. thats how we got so screwed up and owed money in 2001.

 

[N.Bailey]

[I believe I read someplace that you also have to have claimed the Child Tax Credit on your 2002 taxes in order to get the check. (For instance, how would the IRS know if you had a baby in January of 2003?)

We don't qualify. But I knew that, so not unhappy.

EthansMom]

While it's true that you will not qualify for the advance payment towards your 2003 return. If you had a child born in 2003, you will be able to get a child credit of $1000 when you actually file your return for 2003. You just don't get the money now.

 

[Sammy]

Just checked the site and, using DH's SS# (first number on tax return), I got the "if you qualify" message. Went back in as a previous poster suggested, entered my SS# and got a message saying we'll be getting $1,200 mailed out on July 25th!! WOO HOO!!!!!!!!!!!!!!!!!!!!!!!!!!!! That will pay for a good chunk of our November/December trip!!!! YA HOOOOOOOOOOO!!! (just a little excited here).

Sammy

 

[floridafam]

Sorry if this has been asked.

If we had our refund direct deposited then will this check be direct deposited in our bank or will it arrive in the mail?

Anyone know?

 

[LKS]

floridafam, I'm pretty sure these are all checks. They would have a huge mess trying to direct deposit because people might have changed accounts. Mail gets forwarded for a while, but direct deposits don't.

As to the tax situation. Yes, it is just like before. The child credit is being increased and they are giving you the increase now. It really should not "mess you up" unless your withholding is messed up anyway. Yes, if your withholding is short and you didn't get the early check, it might help offset your problem, but by getting the check early, they are really maintaining the status quo, so to speak. Fortunately, this time, the legislation is also eliminating the marriage penalty, so if you are married and have kids, you could get a credit now AND have lower taxes next spring. There is a screen on the Turbotax Website that lets you estimate your taxes before and after the legislation. If you bought Turbotax, there is an update to your software that will actually help you check your w-4s and then print new ones and re-file them with your employer to get your withholding accurate. My family's decrease was unbelievably HUGE, and of course, we are getting part of it now in the form of the child tax credit check and lowered withholding rates as of July 1.

I think everyone would be wise to re-check their withholding under this new scenario to make sure they will not have a tax issue in the spring. The IRS makes available forms and documents to help you look at what has been withheld thus far, what additional income is expected, and guide you on what your withholding should be for the rest of the year.

 

[Blondiex46]

I checked and put in the right amount of everything and says Aug 8, but no amount. I did 't have any income after the exceptions so that is probably why, I didn't get anything the last time either. oh to be poor, lol

 

[Feralpeg]

Well, there is definately a maximum income on this. I put my information in and it said that my income is over the max.