Your 2003 Advance Child Tax Credit - February 2004

As you probably know, and as previously reported here, the federal government increased the child tax credit from $600 to $1,000 per child (maximum 3 children). In most cases, this $400 increase was sent to taxpayers this summer and fall. You will need to know what was sent to you to prepare your 2003 federal income tax returns. Any advance payment received reduces the amount of the child tax credit the taxpayer can claim on the 2003 tax return. Attached is link to the related IRS web site, informing you of what the IRS has sent to you.

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