Child Tax Credit 2024: Where Is Your Refund Money?

If you’re still waiting to get your child tax credit refund and it’s been more than 21 days since you filed with the IRS, it’s time to track your money. You can do this by using IRS Where’s My Refund Tool.

Note that your refund may be delayed because you requested it child tax credit or the Earned Income Tax Credit, which takes a little longer to process. by law, the tax office could not begin sending tax refunds to those claiming the credits until mid-February at the earliest.

With lots of news around child tax credit this year — inclusive 16 countries that also have creditand Congress is working on extended credit — we will explain to you when you can expect a refund if you have applied for the loan. For more, here’s ours major cheat sheet for submission this year. Still need to file taxes? Here’s how to submit for free.

Read more: The Best Tax Software of 2024

What is Child Tax Credit and Additional Child Tax Credit?

Child Tax Credit is a tax break that families can get if they have qualified children. The amount a family can receive is up to $2,000 per child, but it is only partially refundable. This means that if everything isn’t applied to the taxes you owe to reduce your tax bill, you may not get the extra money left over.

The refundable portion is called the Additional Child Tax Credit and this year the refundable amount is $1,600.

When to expect a tax credit refund for your child

For early filers, the IRS told CNET that most child tax credit and earned income tax credit refunds will be available in bank accounts or on debit cards until February 27 for taxpayers who have filed and elected Direct deposit — and no other problems with returning them.

Why February 27? According to the IRS, the agency cannot issue refunds involving the Additional Child Tax Credit (and the Earned Income Tax Credit) before mid-February. The agency by lawis required to use the additional time to prevent fraudulent refunds.

If you haven’t received your money yet and want the credit, you should be able to see your scheduled deposit date by checking the IRS Where is the My Refund tool.

For more tax information, here why you should submit as soon as possible. Also, here how to file your tax return with the irs for free.