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November 03, 2003

Federal Child Tax Credit

Many taxpayers received checks from the I.R.S. this summer. Most recipients probably don't know that these checks are not refunds, but are "advance payments" for the 2003 tax year. In other words, if you're due a refund when you file your 2003 return on April 15, 2004, your refund will be reduced by the amount of the "advance payment" you received in 2003. For more information, visit the IRS website on this subject. If you don't know the amount of your "advance payment" received in 2003, try here

Posted on November 03, 2003 in Tax | Permalink



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