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  #15  
Old 04-26-2004, 02:11 AM
Bill
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Default Re: Advance Child Tax Credit for 2004

wjbjr[at]webtv.net (William=A0Brenner) observed:

- quote -

> an_ordinary_guy (Just plain Bill?) offered, in
> part:
> <snip> Bill


You're on the right track with "Just plain Bill." Remember
Showboat? The song's title was _Bill, and among the lyrics:
"You pass him on the street and hardly notice him ..."

Of course, another *Bill* would sniff that out. <g
Bill

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  #14  
Old 04-23-2004, 04:56 AM
Brian Collie
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Default Re: Advance Child Tax Credit for 2004

"Harlan Lunsford" <lunstax[at]bellsouth.net> wrote:
- quote -

> Paul A Thomas wrote:
> > "Russell Greenlaw" <greenlaw[at]iname.com> wrote


> > > Does anoyone know if they are going to be doing this again
> > > this year or are they going to just wait until filing time
> > > next year?


> > I doubt there will be any advance tax checks for 2004.


> Gawd!!! I sure hope NOT.
> Client is asked, "did you get an 800$ check for your two
> kids last August"? "Yes". So return is prepared and
> filed. Next comes the proverbial letter from IRS "We
> changed your return..... " And client thinks I goofed?
> And no need to tell me I COULD have checked the web site.


Why didn't you check the web site? We didn't even bother
asking our clients we just checked the web site.

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  #13  
Old 04-23-2004, 04:37 AM
William Brenner
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Default Re: Advance Child Tax Credit for 2004

an_ordinary_guy (Just plain Bill?) offered, in part:
- quote -

> "...since it would be viewed as an
> election-year "bribe" to families."


Exactly why one should not bet against it.

Bill

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  #12  
Old 04-23-2004, 03:59 AM
Michael S. Rosen
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Default Re: Advance Child Tax Credit for 2004

Harlan Lunsford <lunstax[at]bellsouth.net> wrote:
- quote -

> Michael S. Rosen wrote:
> > greenlaw[at]iname.com (Russell Greenlaw) wrote:


> > > Does anoyone know if they are going to be doing this again
> > > this year or are they going to just wait until filing time
> > > next year?


> > No, this was a one time advance because they pushed up the
> > timetable on increasing the child tax credit to $1000.


> For clarification, this was the second one time advance....."


That was something completely different. The OP was
referring to the CTC. Nothing says they couldn't accelerate
some other tax cut and advance it to us.

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  #11  
Old 04-23-2004, 03:58 AM
Arthur L. Rubin
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Default Re: Advance Child Tax Credit for 2004

Harlan Lunsford wrote:

- quote -

> Don't you think congress could makes things "simpler"? Oh,
> scratch that. I seem to remember some law in an earlier
> year that was entitled 'Tax Simplication Act", or words to
> that effect embedded in the title.


You mean, the "Tax Preparers Full Employmnet Act"?

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  #10  
Old 04-23-2004, 03:58 AM
CLJ1219
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Default Re: Advance Child Tax Credit for 2004

- quote -

> And no need to tell me I COULD have checked the web site.

We did except for the ones who were prepared enough to bring
us the notices they received.

We still had clients who got letters. Mostly because of a
change in dependent status that we were not made privy to.

Carol
What can one expect of a day that begins with getting out of bed.

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  #9  
Old 04-22-2004, 07:33 AM
Harlan Lunsford
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Default Re: Advance Child Tax Credit for 2004

Michael S. Rosen wrote:
- quote -

> greenlaw[at]iname.com (Russell Greenlaw) wrote:

> > Does anoyone know if they are going to be doing this again
> > this year or are they going to just wait until filing time
> > next year?


> No, this was a one time advance because they pushed up the
> timetable on increasing the child tax credit to $1000.


For clarification, this was the second one time advance....."

Cheer$,
Harlan Lunsford, EA n LA

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  #8  
Old 04-22-2004, 07:33 AM
Harlan Lunsford
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Default Re: Advance Child Tax Credit for 2004

Paul A Thomas wrote:
- quote -

> "Russell Greenlaw" <greenlaw[at]iname.com> wrote

> > Does anoyone know if they are going to be doing this again
> > this year or are they going to just wait until filing time
> > next year?


> I doubt there will be any advance tax checks for 2004.


Gawd!!! I sure hope NOT.

Client is asked, "did you get an 800$ check for your two
kids last August"? "Yes". So return is prepared and
filed. Next comes the proverbial letter from IRS "We
changed your return..... " And client thinks I goofed?

And no need to tell me I COULD have checked the web site.

Don't you think congress could makes things "simpler"? Oh,
scratch that. I seem to remember some law in an earlier
year that was entitled 'Tax Simplication Act", or words to
that effect embedded in the title.

Cheer$,
Harlan Lunsford, EA n LA

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  #7  
Old 04-21-2004, 06:43 AM
CLJ1219
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Default Re: Advance Child Tax Credit for 2004

- quote -

> Does anoyone know if they are going to be doing this again
> this year or are they going to just wait until filing time
> next year?


This is Congress and who knows with them.

Carol
What can one expect of a day that begins with getting out of bed.

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  #6  
Old 04-21-2004, 06:24 AM
Phil Marti
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Default Re: Advance Child Tax Credit for 2004

- quote -

> Does anoyone know if they are going to be doing this again
> this year or are they going to just wait until filing time
> next year?


God, I hope not. Actually, I don't see how they could since
the W-4 worksheets are geared to a $1,000 CTC.

Phil Marti
Topeka, KS

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  #5  
Old 04-21-2004, 06:04 AM
Frederick Jorden
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Default Re: Advance Child Tax Credit for 2004

Russell Greenlaw wrote:

- quote -

> Does anoyone know if they are going to be doing this again
> this year or are they going to just wait until filing time
> next year?


I doubt very much that there will be an advanced payment of
the child credit this year, it was a one shot pump prime
thing.

--
Frederick E. Jorden http://Tax-Accounting-Payroll.com
7825 Midlothian Tpk - 207 Richmond, VA 23235-5247
EMAIL knowtax[at]bigfoot.com
(804) 320-6210 FAX (804) 320-6211

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  #4  
Old 04-21-2004, 06:04 AM
Michael S. Rosen
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Default Re: Advance Child Tax Credit for 2004

greenlaw[at]iname.com (Russell Greenlaw) wrote:

- quote -

> Does anoyone know if they are going to be doing this again
> this year or are they going to just wait until filing time
> next year?


No, this was a one time advance because they pushed up the
timetable on increasing the child tax credit to $1000.

Mike

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  #3  
Old 04-21-2004, 06:04 AM
Bill
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Default Re: Advance Child Tax Credit for 2004

greenlaw[at]iname.com posted:

- quote -

> Does anoyone know if they are going to be
> doing this again this year or are they going to
> just wait until filing time next year?


I have heard of no extant proposal to repeat the "advance"
distribution of Child Tax Credits. In fact, I would bet
against it strongly ... since it would be viewed as an
election-year "bribe" to families.

So you'll have to wait until filing time to take the full credit.

Bill

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  #2  
Old 04-21-2004, 06:04 AM
Ed Zollars, CPA
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Default Re: Advance Child Tax Credit for 2004

Russell Greenlaw wrote:

- quote -

> Does anoyone know if they are going to be doing this again
> this year or are they going to just wait until filing time
> next year?


There's nothing in the law right now that would "prepay" the
increase in the credit again, so unless Congress were to
change the law you'll have to either wait until you file
your 2004 return *OR* simply adjust this year's withholding.

--
Ed Zollars, CPA
Phoenix, Arizona

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  #1  
Old 04-21-2004, 05:45 AM
Wayne Brasch
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Default Re: Advance Child Tax Credit for 2004

"Russell Greenlaw" <greenlaw[at]iname.com> wrote:

- quote -

> Does anoyone know if they are going to be doing this again
> this year or are they going to just wait until filing time
> next year?


I don't think they will do this again, but one never knows
what Congress may or may not do. We'll have to wait and
see.

Wayne Brasch, CPA, M. S. Taxation

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Old 04-21-2004, 05:26 AM
Paul A Thomas
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Default Re: Advance Child Tax Credit for 2004

"Russell Greenlaw" <greenlaw[at]iname.com> wrote

- quote -

> Does anoyone know if they are going to be doing this again
> this year or are they going to just wait until filing time
> next year?


I doubt there will be any advance tax checks for 2004.

--
Paul A. Thomas, CPA
Athens, Georgia
taxman at negia.net

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  #-1  
Old 04-19-2004, 08:46 PM
Russell Greenlaw
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Default Advance Child Tax Credit for 2004

Does anoyone know if they are going to be doing this again
this year or are they going to just wait until filing time
next year?

Thanks,

Russell

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