Without getting too technical, taxpayers with children that had adjustable gross income (the number at the bottom of the first page of the 1040) of between approximately $30,000 to $120,000, and have filed their 2002 tax return, will receive payment of $400 per child.
The $400 represents the difference between the new (accelerated) child tax credit of $1000 per child this year, vs. the $600 that was originally to be paid this year, before Pres. Bush signed the new tax bill.
I know I'm missing a few key points, but it's early, and I don't feel like looking up everything. You can find all of the info at the IRS web page.
Your statement was accurate, but it's NOT just taxpayers who will be getting these checks. Yes, you do have to have kids to get this, but even families with zero income tax liability will get these. In that regard, many of these are not tax-rebates, but welfare checks or transfer payments. And before anyone chimes in with the "they are too tax payers...they pay social security taxes!" connard, it should be noted that these people are refunded almost every penny (in some cases more) of the social security taxes that they paid in, through (un)earned income tax credit.
Welfare ended as we knew it....now the lower rungs of the middle class are on it!