Child-Credit Refunds Being Sent to Taxpayers
The Treasury Department began mailing out checks worth up to $400 per child to more than 25 million households.
The checks represent an advance refund on the child tax credit, increased to $1,000 this year. The first batch of roughly 8.6 million checks will return a total of $4.4 billion to taxpayers despite the ballooning federal deficit. Two more batches will be sent in August.
The checks will be sent to those who qualified for the credit in 2002. Taxpayers need not contact the Internal Revenue Service to get their payments.
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