Child Tax Credit 2024: When Will My Refund Be Sent by the IRS?

Child Tax Credit 2024: When Will My Refund Be Sent by the IRS?

Thus far this tax season, the IRS has issued more than $115 billion in tax refunds. However, if you filed a tax return and claimed the child tax credit but haven’t received your refund yet, you can quickly check the status of your return online.

Keep in mind that if you haven’t received your refund yet, it might be because you filed claims for the earned income tax credit or the child tax credit, both of which require processing time. As per the rules, tax refunds to the individuals who claimed the credits could not be started by the IRS until the middle of February at the latest.

There’s been a lot of news about the child tax credit this year, including 16 states that have a tax credit as well and Congress working to expand the tax credit. That’s why we’ll explain when you can expect your refund if you claim a tax credit.

Child tax credit is a tax reduction that is available to households with eligible children. Families can receive up to $2,000 per child, but only a portion will be refunded. This means that if you don’t use all of the taxes you owe to lower your tax bill, you may not have any extra money left over.

The refundable portion is called the additional Child Tax Credit and this year it’s $1,600 for him.

When to expect your child tax credit refund

The IRS tells CNET that most Child Tax Credits and Earned Income Tax Credits will be redeemable by February 27 in the bank account or debit card of taxpayers who applied and chose direct deposit. I said it would be possible. There are no further issues regarding returns.

According to the IRS, this delay was due to the IRS’ failure to issue refunds related to his Additional Child Tax Credit (and Earned Income Tax Credit) by mid-February. Agents are required by law to use additional time to prevent fraudulent refunds.

If you haven’t received your money yet and are claiming a credit, you should be able to see the expected date of your deposit in the IRS Refund Tool.

If you require additional tax information, please submit it as soon as possible. You can also learn how to file your tax return with the IRS for free.

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