IRS PREPARING TO SEND OUT CHILD TAX CREDIT CHECKS
The Internal Revenue Service is gearing up to mail advance payment checks to 25 million taxpayers eligible for a tax credit for their child in 2003. The payments will be mailed out starting July 25 and are part of the Jobs and Growth Tax Relief Reconciliation Act of 2003, signed by President Bush last month, according to the IRS. Who qualifies for the credit? The IRS and U.S. Department of the Treasury are figuring that out right now.