Makes sense that it's really an advance on your 2001 taxes. It was meant to reflect the fact that there's a new 10% tax bracket. Federal withholding rates dropped effective July 1, so to make up for the first half of the year, we all get the $300 (or whatever) that would not have been withheld out of our paychecks had the rates dropped on January 1 instead. It is misleading, though.
Plus, the people who could most use a few extra bucks (low income families, students, senior citizens) are the ones who aren't getting a dime! Especially students - a lot of whom probably would have gotten something had their parents not claimed them on their tax returns last year. Bad Dubya!!!
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