We got our Child Tax Credit check today!

[SonjaB]

I just checked, mine is scheduled to be mailed August 8th.

 

[lulubelle]

Well, I feel gyped. My SS# ends in "16" and I thought I would get my check this week. Instead I got a letter today that said my check would be arriving within two weeks. Duh, that was a waste of paper and .37 cents. Anyway, congrats to those of you who got them. Happy spending! Oh, and BTW, I barely qualified as DD was born 1/11/87. Yikes!

 

[CamColt]

Originally posted by lulubelle
Well, I feel gyped. My SS# ends in "16" and I thought I would get my check this week. Instead I got a letter today that said my check would be arriving within two weeks. Duh, that was a waste of paper and .37 cents. Anyway, congrats to those of you who got them. Happy spending! Oh, and BTW, I barely qualified as DD was born 1/11/87. Yikes!

We got that letter AND the check today.

 

[powellrj]

I have a question, do you get a live check or do they deposit it in your account if you have your refund direct deposited? Thanks!

 

[KimR]

Originally posted by KathyTX

The Child Tax Credit begins to phase out for taxpayers with modified adjusted gross income above:

* $110,000, if married filing jointly
* $55,000, if married filing separately, or
* $75,000, for all others.

That's what I thought...we've never been eligible before but we got a check for $1200 the other day! It was a nice surprise, but come April, are we going to owe this money back? I'd rather they just not send it in the first place if we're only going to have to pay it back! What's going on?

Kim

 

[wdwdvcdad]

Pam, if you believe the "hocus pocus" coming from Bush and his cronies, the whole idea is for consumers to spend their checks to support the economy .

yeah, imagine, people spending their own money, which puts people to work! Such hocus pocus! The nerve of americans doing what they want with their hard-earned cash. It's just obscene!

 

[Betsyt82]

Well we got ours yesterday and we are turning it into found monies to take with us to WDW at the end of August. That is how we are spending the money. DH and I are going WITHOUT children for a long week end.

 

[rae519]

We got our check on Monday - and what great timing since we leave for our cruise on Friday!!!!

HURRAH!

Rae

 

[Simba&Nala]

We received our letter on Saturday and the check on Monday.

 

[Blondie]

Originally posted by powellrj
I have a question, do you get a live check or do they deposit it in your account if you have your refund direct deposited? Thanks!

Ours came as a "live check" even though our tax refund is direct deposited.

 

[dtuleya]

Got ours yesterday and within 20 minutes it was in the bank. Of course it will be coming out on Thursday for extra spending money for our vacation!

 

[Mermaid02]

We got ours on Monday too! Booked our flights to WDW!!

 

[AllyandJack]

I don't have any kids, so I'm not getting any money, but I'm happy to see people getting some of their hard-earned cash back. Don't let anyone rain on your parade. Money is a good thing. You earned it, you do with it whatever you like.

Congrats to everyone and I hope you have a good time with it!!

 

[Desiree]

I wonder if anyone can help me with this. I have a 9 year old. But me and my ex husband are divorced. He claims her on taxes one year and I claim her the next. Who will get the check? As it worked out, the last taxes it was his time. Do you know how this would work out? Would the IRS cut split our check?

 

[iNTeNSeBLue98]

Originally posted by Desiree
I wonder if anyone can help me with this. I have a 9 year old. But me and my ex husband are divorced. He claims her on taxes one year and I claim her the next. Who will get the check? As it worked out, the last taxes it was his time. Do you know how this would work out? Would the IRS cut split our check?

Whomever of you claimed her on your 2002 tax return (filed by 4/15/2003)

Originally posted by KimR
That's what I thought...we've never been eligible before but we got a check for $1200 the other day! It was a nice surprise, but come April, are we going to owe this money back? I'd rather they just not send it in the first place if we're only going to have to pay it back! What's going on?

This rebate is in advance of the new $1000 child tax credit for 2003 (to be filed by 4/15/2004) signed in to law by President Buch. For tax year 2002 the amount was $600, a difference of $00 between 2002 and 2003. To boost the economy (so Pres. Bush hopes) the difference was retroactive to parent's of qualifying children based on their 2002 returns.

No, you will not have to pay it back in 2004. It is yours, in advance of this years tax return, based on what you filed for 2002.

Feel free to correct me if I incorrectly stated any of the above information.

 

[megashark]

Originally posted by iNTeNSeBLue98
Whomever of you claimed her on your 2002 tax return (filed by 4/15/2003)




This rebate is in advance of the new $1000 child tax credit for 2003 (to be filed by 4/15/2004) signed in to law by President Buch. For tax year 2002 the amount was $600, a difference of $00 between 2002 and 2003. To boost the economy (so Pres. Bush hopes) the difference was retroactive to parent's of qualifying children based on their 2002 returns.

No, you will not have to pay it back in 2004. It is yours, in advance of this years tax return, based on what you filed for 2002.

Feel free to correct me if I incorrectly stated any of the above information.

I believe this is correct. But to clarify, if your husband receives a check, but is not entitled to claim your child next year, he will either get $400 less in his refund or need to pony up $400 more if he owes. You will actually receive the benefit of the extra $400, but not until you file your taxes next year.

This would be important for anyone who is in the opposite position to remember. If you get a check for a child you won't be claiming next year, you may have to pay more than you're currently expecting when you file.

DO NOT give the money to the person who "should" get it, the IRS ain't gonna keep track. You can't claim next year that you gave the money to your ex-spouse.