[rlander]

Good news!!! If you have a child, you may receive a $400 per child rebate before summer ends!!!
You will also get up to a 19% reduction in you federal income tax on your paycheck!!!

[gcbdad]

Originally posted by rlander
Good news!!! If you have a child, you may receive a $400 per child rebate before summer ends!!!
You will also get up to a 19% reduction in you federal income tax on your paycheck!!!

Wow rlander.

That would be great news if this were to happen. Any idea as to when this might happen?

[rlander]

President Bush signed the bill yesterday. The child tax credit is retroactive. The 2002 deduction per child was $600, but now it is $1000. So everyone who filed in 2002 with a qualifying child will get a $400 rebate per child in the mail by the end of the summer.
I think the income tax reduction will happen next month.

[mattomouseman]

Originally posted by rlander
President Bush signed the bill yesterday. The child tax credit is retroactive. The 2002 deduction per child was $600, but now it is $1000. So everyone who filed in 2002 with a qualifying child will get a $400 rebate per child in the mail by the end of the summer.
I think the income tax reduction will happen next month.

$400.00 PER child?????

Hey my boys are worth more then a measly $800.00!

HMMMM Don't get me wrong, I'll take the $800.00, I won't be happy :whistle:, but I'll take it!:laugh

[preidel24]

Hey I wonder if I'll get it. We were not able to claim our dependents as deduction this year because of our increased income. 400 times three kids that 1,200 that would make up a little for the 2,900 time 3 (8,700) they didn't allow us to take on any of our DS. More disney spending money just in time for our October trip. I am going to give the accountant a call. Thanks for that info you always keep us up to date.

Paula

[CaribBeachNut]

After last winter's snow, I am looking at a new snow blower! My back still hurts from that one storm that dumped 29 inches in one day last January.

[Willbegone]

29 inches of snow??? OMG, we freak when we get 1/2" here in SC. I mean schools close, groceries stores are emptied of milk and bread. Oh wait that happnes even if it is forecasted! ;)

Unfortunately, I'm in the same boat. I can't spend my rebate on Disney either. Well, I guess, in a way it is because we need 4 new tires for the car before we go to the Disney's Hilton Head resort in November.

[neen626]

Woo Hoo that means more money to go to our Disney Fund for our next trip.

I think they are looking at checks coming out sometime in July or August.

Willbegone I had to laugh at your post about SC people freaking about 1/2 inch of snow. In Florida, everyone breaks out the jackets if it hits 70 degrees ~ they think a snowstorm is coming :)

[mattomouseman]

Found this on the IRS website

Quoted from IRS website:
New Tax Law Means Extra Cash for Some Families This Summer

In the summer of 2003, your kids could be memorable for more than just a skinned knee, a stray dog, or a boyfriend with an earring. This summer your kids could be the reason you get a special check from Uncle Sam! And all you have to do is cash it.

The check is an advance payment of the new tax law’s 2003 increase in the Child Tax Credit. If you claimed the credit on your 2002 tax return, you may be eligible for up to $400 for each qualifying child. That’s the difference between the 2002 maximum credit of $600 and the increased 2003 amount of $1,000.

Starting on July 25, the checks will be issued to about 25 million eligible taxpayers. And you don’t have to call, apply or fill out another form. Just sit back and think of how you’ll spend the money. Maybe a new wardrobe, a DVD player, a Coverdell Education Savings Account ...?

If you want details, we’ve got them. And remember to thank those little treasures you call your kids.



:) :) :) :)

[rlander]

Originally posted by mattomouseman
And remember to thank those little treasures you call your kids.



:) :) :) :)

For the first time ya gotta love the IRS!!
Don't forget to thank the President and those great Republicans in the House and Senate.