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I don\'t know where my quesiton went...but
here's the answer....found on CNN. I cam back to the person who referred me to this site to say thank you...now I can't find you.
Most provisions, including those cutting marginal tax rates and extending the amount of income taxed at the lowest rate, 10 percent, will take effect on July 1, and people with children will soon get rebate checks of up to $400 per child.
But before you plan on spending that dough, be sure you qualify.
The child tax credit isn't as generous – and may not even be available – for those who "earn too much." In the eyes of Uncle Sam, that's singles with an AGI over $75,000 and married couples with an AGI exceeding $110,000.
If you do qualify for the full credit, be aware that it drops back to $700 in 2005 and $500 in 2011.
here's the answer....found on CNN. I cam back to the person who referred me to this site to say thank you...now I can't find you.
Most provisions, including those cutting marginal tax rates and extending the amount of income taxed at the lowest rate, 10 percent, will take effect on July 1, and people with children will soon get rebate checks of up to $400 per child.
But before you plan on spending that dough, be sure you qualify.
The child tax credit isn't as generous – and may not even be available – for those who "earn too much." In the eyes of Uncle Sam, that's singles with an AGI over $75,000 and married couples with an AGI exceeding $110,000.
If you do qualify for the full credit, be aware that it drops back to $700 in 2005 and $500 in 2011.