Child Tax Credit
Did You Receive a Check Last Summer?
When Congress increased the child tax credit from
$600 to $1,000 with the passage of the last tax bill, it decided to send
the increase as an advance refund. The refund was sent to taxpayers who
claimed eligible children as dependents in 2002.
It is important that the amount of the advance refund you received is
communicated to your tax preparer. The amount is needed to accurately
compute the amount of the child tax credit you are eligible for on your
2003 tax return.
If you did not receive an advance refund this summer, don’t worry. You
will be allowed to claim up to the full amount for which you are eligible
when you file your 2003 tax return.
If you did receive a check and have forgotten the
amount, you can obtain the amount from the IRS web site at the page,
Get
Your Advance Child Tax Credit Status.