The Child Tax Credit (CTC) is designed to help families with children by reducing their tax bill and potentially providing a refund. For the 2023 tax year, you can claim up to $2,000 per child under age 17.
There’s an extra credit of $1,600 available for children aged 17 and 18. While there were monthly advance payments in 2021, these have been removed for 2024.
This guide will help you understand how to check your CTC status, what to do if you haven’t received your payment, and how to check your overall tax refund status.
Checking Your Child Tax Credit Status
The CTC reduces your tax liability and can provide a refund if the credit amount exceeds your taxes owed. For 2023, the maximum amount is $2,000 per child under 17 and up to $1,600 for children aged 17 and 18.
In 2021, families received monthly advance payments of the CTC. However, starting in 2024, the credit is claimed only through your annual tax return, not as monthly payments.
No Advance Payments in 2024
Monthly advance payments of the CTC were only available in 2021. Since 2024, you can no longer receive these monthly payments. To get the credit, you must claim it when you file your tax return for 2023.
Key Points to Remember:
- No Monthly Payments: Monthly advance payments are no longer available.
- Claim During Tax Filing: Claim the CTC on your 2023 tax return.
How to Check Your Tax Refund Status
Since there are no monthly CTC payments in 2024, you can’t check a separate CTC payment status. Instead, you should track your overall tax refund, which includes the CTC, using the IRS “Where’s My Refund?” tool.
Steps to Check Your Refund Status:
- Visit the IRS Website: Go to the IRS “Where’s My Refund?” tool.
- Enter Required Information: Input your Social Security number, filing status, and exact refund amount.
- Check Status: The tool will show the estimated time for receiving your refund.
Delays in CTC Refund Payment
Several factors can delay your refund:
- Incomplete or Inaccurate Tax Return: Double-check your Social Security number, dependent info, and income figures.
- Processing Delays: The IRS might experience backlogs, especially during busy seasons.
- Identity Verification: The IRS might need additional documentation to verify your identity.
- Tax Offset: If you owe any federal or state debt, your refund might be used to cover that before issuing the remaining amount.
Resolving CTC Refund Issues
If you think the CTC amount on your return is incorrect, follow these steps:
- Review IRS Guidelines: Make sure you meet all eligibility criteria.
- File an Amended Return: If there’s an error, file an amended return using Form 1040X.
- Contact the IRS: If you’re unsure about discrepancies or how to amend your return, contact the IRS for help.
Although the Child Tax Credit no longer offers monthly payments in 2024, families can still benefit by claiming it on their annual tax return.
Use the IRS “Where’s My Refund?” tool to track your refund and address any issues as soon as possible to ensure you receive your full credit.
What is the Child Tax Credit for 2024?
The Child Tax Credit for 2024 allows families to claim up to $2,000 per child under 17, and an additional $1,600 for children aged 17 and 18. Monthly payments are no longer available; it must be claimed on your annual tax return.
How can I check the status of my Child Tax Credit?
You can’t check a separate CTC payment status in 2024. Instead, use the IRS “Where’s My Refund?” tool to track your overall tax refund, which includes any CTC credit.
Why haven’t I received my Child Tax Credit payment yet?
Monthly payments were only available in 2021. For 2024, you need to claim the CTC through your tax return. Refund delays may occur due to processing backlogs or errors on your return.
What should I do if my CTC refund is delayed?
Check for errors on your tax return, ensure all information is correct, and use the IRS tool to track your refund. Delays might also be due to IRS processing or debt offsets.
How can I fix errors on my Child Tax Credit claim?
Review the IRS guidelines for eligibility, file an amended return if necessary using Form 1040X, or contact the IRS for assistance if you’re unsure about discrepancies.
