Mailing schedule for advance child tax credit payments

[Sandal16]

The Treasury Department will begin mailing checks for the advance payment of the increased Child Tax Credit on July 25, with most checks mailed by August 8. These will cover eligible taxpayers who filed their 2002 tax returns by April 15. As the IRS processes returns from taxpayers who filed after that date, it will schedule advance payments on a weekly basis. No checks will be sent after December.

For the first three weeks, the checks will be sent according to the last two digits of the taxpayer's social security number:

00-33 -- mailed July 25
34-66 -- mailed August 1
67-99 -- mailed August 8

Eligible taxpayers whose returns were not processed in time for these initial mailing dates will have their checks sent out after the IRS processes their returns.


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[bestmidwest]

Looks like we're in the August 8th mailing. Thank you very much for that update Sandal!

[Shainie]

WooHoo July 25

Thanks for the info

[freesurfer]

We filed an extension so I'm sure we are out on this.

[mayfly]

This time there seems to only be a two week difference from beginning to ending of sending them out. Last time it seemed like there were 3 weeks between each sending. They are getting quicker!

[chippers21]

Not getting one since my baby is 17 But at least hubby has 3 pay-dates in July. We need it with the college bills and my internet shopping habit Spend it wisely all you lucky ones. On second thought, splurge a little

[Jwelch111]

SAVE the money...in a money market fund, or deposit the check in your IRA . OR, because this money is given because you have a younger child, invest in his / her's college fund. JMHO

[Juliannaluv]

For once I agree with Jwelch. Mine will be split evenly between my children & going into their college fund (what little is in there now)

[tkkmasky]

So, from my understanding, this is an advance? So next tax year (2003) we won't be getting this and only the $400 per child? (sorry, I'm a bit confused)

[Mouse7088]

So, from my understanding, this is an advance? So next tax year (2003) we won't be getting this and only the $400 per child? (sorry, I'm a bit confused)

I had read this yesterday ( [Only registered and activated users can see links. Either login above or Register Now] ):
Child Tax Credit. The child tax credit was scheduled to be $600 for 2003 and 2004 and $700 in 2005. The new law increases the credit to $1,000 for 2003 and 2004. Up to $400 per child will be paid to families beginning in July 2003, based on the information included in the taxpayer's 2002 return. In 2005, the credit will fall back to $700, increase to $800 in 2009 and to $1,000 in 2010 and in 2011, it will drop to $500. The credit will not be available at all in 2003 to single parents with adjusted gross incomes (AGIs) of $75,000 or more or couples with AGIs of $110,000.

[slmlmlel]

I'm still confused my husband makes $45,000 and we have 2 kids so for the 2003 tax season what type of credit will we be geting?

My mother in law was told that for the 2003 tax year you would have to pay it back double of what you got. Does any one know if this is true?


also whose ss# do they go off of the husband or the wifes? Or is it whose name is first?

[stking]

This also only applies to you if you paid more than that in taxes. For example, if you look at our 2003 tax returen, after all our deductions, we were only liable for $822 in taxes. We had paid in much more than that so our refund was the difference. Now that they are increasing this tax credit, we will only get $822 in this mailing, not $1600 (because we have 4 kids). Right? You can't get back more than the tax that was paid.

[stking]

Originally posted by slmlmlel
I'm still confused my husband makes $45,000 and we have 2 kids so for the 2003 tax season what type of credit will we be geting?

My mother in law was told that for the 2003 tax year you would have to pay it back double of what you got. Does any one know if this is true?


also whose ss# do they go off of the husband or the wifes? Or is it whose name is first?

In answer to your first question, you will get $800 unless you paid less than that in taxes. (I believe!)

Don't know anything about your second question.

They go off of whosever name is first which is usually the hussbands.