title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Thursday, May 29, 2003
 

Advanced Child Credit Payments


Starting on July 25, IRS will be sending out checks to people who, based on info from their 2002 tax returns, will qualify for the new higher $1,000 per child (formerly $600) credit.  They expect to be sending out about 25 million checks for the extra $400 per qualifying child. They have more details on this, including the expected payment schedule on this page of their website.  As I said earlier, if you do receive one of these check from IRS, be sure to label it properly in your checkbook and/or QuickBooks register and give that info to your tax preparer when s/he works on your 2003 1040.  Otherwise, we'll have more of same kind of problems we had with the 2001 IRS checks.


- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 5/29/2003 12:30:00 PM Send this post:

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