Business Services Industry
Advance Child Tax Credit Payments in the Mail.
Knight Ridder/Tribune Business News, July, 2003
By Avrum D. Lank, Milwaukee Journal Sentinel Knight Ridder/Tribune Business News
Jul. 26--The checks are in the mailbox.
Friday, the Internal Revenue Service sent out the first wave of about 25 million checks -- including more than a half-million to addresses in Wisconsin -- as an advance payment on the expanded child credit in the new tax law.
Another wave will follow next week, with a final one washing into the nation's homes the week after that.
The checks came about because the new law increased the child tax credit to $1,000 from $600. They will pump some $15 billion into the pockets of Americans in a bid to add pep to the sluggish economy.
That will make most parents happy. But the same tax law that resulted in...
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