They way I understand it, this is an advance on next year's child tax credit, which will be $1000 per child. So, when you file your next tax return, you'll be able to claim $600 per child rather than $1000 because you've already been advanced the $400. So I don't think the ammount we receive now will be subtracted, exactly, from next year's refunds. Also, after a year or so (sorry, I can't remember exactly how long) the child tax credit will go back down to $600.
post #41 of 50
8/1/03 at 9:03am