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Status of the Tax rate cut, and child tax credit
? ^ | 7-9-03 | self

Posted on 07/09/2003 11:10:03 AM PDT by haole

Can someone update me on the status of the Child Tax Rebates we were supposed to be getting starting this July? Also, the retroactive tax rate decrease ( to last Jan ), that was supposed tokick in?


TOPICS: News/Current Events
KEYWORDS: bushtaxcuts; childtaxcredits; faq; retroactive; when
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Did this get passed, and signed, or did the dim-mocrats stall this?
1 posted on 07/09/2003 11:10:04 AM PDT by haole
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To: All

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2 posted on 07/09/2003 11:10:54 AM PDT by Support Free Republic (Your support keeps Free Republic going strong!)
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To: msdrby
ping
3 posted on 07/09/2003 11:15:42 AM PDT by Prof Engineer (I'm a man, But I can change, If I have to, I guess)
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To: haole
Passed and signed. Don't expect to receive a check, though. The tax credits and retro rate reduction will show up when you file at the end of the year.
4 posted on 07/09/2003 11:15:58 AM PDT by newgeezer (Just my opinion, of course. Your mileage may vary.)
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To: newgeezer
I thought we were getting checks for the child credit.
5 posted on 07/09/2003 11:16:46 AM PDT by smadurski
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To: haole
Don't fret--the tax cut was passed, and the new payroll tax tables are in effect as of 7/1. I handle payroll and accounting where I work, and I just received the updated software.

Regarding the pre-payment of the Child Tax credit, I copied this off the IRS web site:

Starting 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. So, just sit back and wait for the check in the mail.

I just got back from vacation, which included a stop to visit our Congressman. When I thanked him for his vote in favor of the tax cut, he said there's more to come (i.e. next year).

6 posted on 07/09/2003 11:17:32 AM PDT by Night Hides Not
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To: smadurski
Rebates for the child tax credit are going to be mailed starting later this month... I think the checks will be mailed over the next 4 months.
7 posted on 07/09/2003 11:18:19 AM PDT by So Cal Rocket (Free Miguel and Priscilla!)
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To: smadurski
poster is wrong or confused. The tax tables were already adjusted for witholding. My employer started paying at the lower rate in the middle of June. IRS required all employers to begin complying by July 1. The child tax credits start going out this month.
8 posted on 07/09/2003 11:18:27 AM PDT by Steven W.
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To: So Cal Rocket
The tax rebate checks are going out in three batches starting Jult 25th. Here's how it goes: Taxpayers' SS #

Ends in 00-33 Mail date July 25th

Ends in 34-66 Mail date August 1

Ends in 67-99 Mail date August 8.

9 posted on 07/09/2003 11:23:13 AM PDT by Trust but Verify (Will work for W)
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To: Steven W.
My husband's pay check, received on July 5th, was $30 more due to the reduction in the tax tables.
10 posted on 07/09/2003 11:24:19 AM PDT by Trust but Verify (Will work for W)
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To: newgeezer
Incorrect. See post #9.
11 posted on 07/09/2003 11:24:58 AM PDT by Trust but Verify (Will work for W)
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To: Trust but Verify
As was mine. I stand to gain about $500 extra per year thanks to Bush's tax cut.

Thank you GWB, for giving me back more of my own money!
12 posted on 07/09/2003 11:29:50 AM PDT by ItsOurTimeNow ("For great justice...")
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To: Trust but Verify
You are correct. My bad (as was my source, too).
13 posted on 07/09/2003 11:32:44 AM PDT by newgeezer (Just my opinion, of course. Your mileage may vary.)
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To: Trust but Verify
Wouldn't you know it. I'm in batch #3.
14 posted on 07/09/2003 11:50:55 AM PDT by Cicero (Marcus Tullius)
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To: Trust but Verify
DadOfFIve, last two SSN = 18.
How lucky can I get?
Seriously, should I expect $2K?
15 posted on 07/09/2003 12:00:25 PM PDT by DadOfFive
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To: DadOfFive
I believe you will receive $2,000 if you have 5 kids, all of dependant age, and if you meet certain income requirements (can't make too much, can't make too little).

Coincidently, the maximum you can give to the Reelect Bush/Cheney in '04 Campaign is $2,000.

16 posted on 07/09/2003 12:03:16 PM PDT by So Cal Rocket (Free Miguel and Priscilla!)
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To: DadOfFive
When you file your taxes, are you able to claim the credit for all 5 or at some point does your net tax get to zero? Also, if your income is above a certain amount, the credit phases out.

Congratulations on your brood and good luck!

17 posted on 07/09/2003 12:13:40 PM PDT by Trust but Verify (Will work for W)
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To: Cicero
Well, at least you made one of the batches. Mine are still living at home, still dependents, but too old to receive the credits.

If it makes you feel any better, if I qualified, I'd be in the third batch as well ;)

18 posted on 07/09/2003 12:15:50 PM PDT by Trust but Verify (Will work for W)
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To: Trust but Verify
Looks like I will be "stimulating" the economy BIG TIME !
Hmmm, do I let Mrs.DadOfFive (aka MomOfFive) know?
19 posted on 07/09/2003 12:20:48 PM PDT by DadOfFive
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To: haole
Anyone know the answer to this? If someone has a dependent child under 17 that does not live with them, will they receive a rebate?
20 posted on 07/09/2003 12:25:01 PM PDT by TN4Liberty
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