Frequently Asked Tax Questions And Answers
Keyword: Child Tax Credit
7.6 Child Care Credit/Other Credits : Advance Child Tax Credit
I got the check. Does this mean that I will not be getting a big
refund on my 2003 return?
Assuming that your income and number of qualifying children remain the
same, your 2003 refund should not be smaller than your 2002 refund because
of your advance payment. The law simply gave you this increase rather than
have you wait until you filed your 2003 return in 2004. You just subtract
the amount of your advance payment check from the $1,000 per-child total on
your 2003 return.
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