Where's My Child Tax Credit 2024: When to Receive My Money After April 15 Tax Filing Deadline?

By Madz Dizon

Apr 18, 2024 11:16 PM EDT

Where's My Child Tax Credit 2024: When to Receive My Money After April 15 Tax Filing Deadline?
New Hampshire parents and other supporters gather outside of Senator Hassan's Manchester office to thank her for child tax credit payments and demand they be made permanent on September 14, 2021 in Manchester, New Hampshire.
(Photo : Scott Eisen/Getty Images for ParentsTogether))

Now, you can excitedly awaiting the arrival of your Child Tax Credit funds if you successfully filed for your taxes before the April 15 deadline.

If it has been over 21 days since you filed your tax return with the IRS, it might be a good idea to go online and check its status. 

When Can I Receive my Child Tax Credit?

There may be a delay in processing your refund if you have claimed the child tax credit or the earned income tax credit. These credits typically require additional processing time.

According to regulations, the IRS was unable to initiate the distribution of tax refunds to individuals who were eligible for the credits until at least mid-February. 

According to the IRS, early filers can expect to receive their Child Tax Credit and earned income tax credit refunds in their bank accounts or on debit cards by February 27, provided they have filed and opted for direct deposit, and there are no other issues with their return.  

Refunds that include the additional child tax credit (and the earned income tax credit) will not be issued before mid-February. As mandated by law, the agency must use the additional time to protect taxpayers against fraudulent refunds. 

If you are still awaiting your funds and have filed for the credit, you can find out when you can expect your deposit by using the IRS' Where's My Refund tool.  

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How Much is 2024 Child Tax Credit?

In the tax year 2023, filed in 2024, each eligible child can provide you with a tax credit of up to $2,000. If your modified adjusted gross income is below $400,000 for married couples filing jointly, or $200,000 for other filers, this amount applies.

In addition, there is an extra benefit - the possibility of receiving up to $1,600 per child as a refundable portion known as the Additional Child Tax Credit .

According to Marca, a proposed legislation, the Tax Relief for American Families and Workers Act of 2024, aims to raise the maximum refundable amount per child in future tax years. The projected amounts are $1,800 for 2023, $1,900 for 2024, and $2,000 for 2025.

Refunds for returns claiming the additional Child Tax Credit cannot be issued by the IRS until mid-February, which may affect early filers.
It is crucial to understand the specifics of the Child Tax Credit as it can have significant effects on your financial circumstances. 

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