Child Tax Credit 2024: When Will the IRS Send Your Refund? (2024)

FAQs

Child Tax Credit 2024: When Will the IRS Send Your Refund? ›

When to expect your child tax credit refund. For early filers, the IRS told CNET that most child tax credit and earned income tax credit refunds would be available in bank accounts or on debit cards by Feb. 27 for taxpayers who have filed and chose direct deposit -- and there are no other issues with their return.

For early filers: The IRS cannot send out refunds for returns claiming the additional child tax credit until mid-February, as per the law. If you go for direct deposit, file online, and make sure your return is error-free, the IRS says you should see your refund in your account by February 27, 2024.

The IRS expects the earliest Earned Income Tax Credit and Additional Child Tax Credit related refunds to be available in taxpayer bank accounts or on debit cards by February 27 if you chose direct deposit and there are no other issues with the tax return.

You can start checking on the status of your refund within 24 hours after the IRS has received your electronically filed return, or 4 weeks after you mailed a paper return.

Day of the week for IRS refund deposits

It's common for the IRS to issue refunds on business days, from Monday through Friday.

The more children you have, the larger the potential credit. In 2024, the maximum EITC ranges from $632 for someone with no children to $7,830 for a family with 3 or more dependent children. The size of your credit depends on your adjusted gross income too.

2024 tax filing season set for January 29; IRS continues to make improvements to help taxpayers. IR-2024-04, Jan. 8, 2024 — The Internal Revenue Service today announced Monday, Jan. 29, 2024, as the official start date of the nation's 2024 tax season when the agency will begin accepting and processing 2023 tax returns.

(updated December 22, 2023) We issue most refunds in less than 21 calendar days. However, if you mailed your return and expect a refund, it could take four weeks or more to process your return.

What day will Child Tax Credit be deposited? ›

These payments will begin on July 15, 2021, and families can expect their benefit to be direct deposited into their bank accounts on the 15th of each ensuing month. When you file your taxes in 2022, you will receive a lump sum payment to make up the balance of your total benefit.

What happens after I successfully verify? We'll process your tax return. It may take up to 9 weeks to receive your refund or credit any overpayment to your account.

Information is updated once a day, overnight.

When to expect your child tax credit refund. For early filers, the IRS told CNET that most child tax credit and earned income tax credit refunds would be available in bank accounts or on debit cards by Feb. 27 for taxpayers who have filed and chose direct deposit -- and there are no other issues with their return.

According to the IRS, a refund with an EITC will arrive around March 1 if you filed electronically and elected for direct deposit, and there were no issues with your return. By law, the IRS cannot issue a tax refund with an EITC before mid-February.

All you'll need to apply are a reliable mailing address, an e-mail address, Social Security numbers for your children, and Social Security Numbers (or ITIN) for you and your spouse. If you provide bank account information, you can receive your payment safely and securely by direct deposit.

The Internal Revenue Service says it processes about nine out of 10 tax returns within 21 business days. That estimate does not include weekends and holidays.

For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; and for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the amount for tax year 2023.