Tax season started on 29 January 2024, and many taxpayers must have already received their tax refunds. Taxpayers who have children and claim the Additional Child Tax Credits (ACTC) may not have received their tax refund as the IRS cannot process their tax refund till mid-February due to the PATH federal law.
Today or soon, you may claim your Additional Child Tax Credit!
The wait for taxpayers who have claimed the Additional Child Tax Credit will end soon. The taxpayers who have filed early for the tax returns with the Additional Child Tax Credit can expect their tax refund this day. The IRS stated the 27 Feb date for the taxpayers claiming the Additional Child Tax Credit.
Some taxpayers can get the Additional Child Tax Credit refund a few days earlier as after mid-February, the IRS will begin to process the refund of the Additional Child Tax Credit.
If your Additional Child Tax Credit refund gets delayed more than you expected, then your application must need correction or extra review. If the IRS requires more information to process your refund, the IRS will notify you via letter or email. Taxpayers claiming the Additional Child Tax Credit can track their tax refunds on the IRS website or IRS2Go mobile applications.
Eligibility for the Additional Child Tax Credit Claim and how much is it
Taxpayers who are yet to file the child tax credits can check the following criteria to know if they are eligible for the Additional Child Tax Credit refunds:
- The child must be an independent child under the age of 17 years.
- The child should not provide more than half of their financial support during the year.
- The child must be living with you for more than half the year.
- The child must be legally realized, such as your son, daughter, half-brother & sister, foster child, stepbrother, stepsister, brother, sister, or grandchild.
- Your gross income should be $200,000 or less and if you are filing a tax return jointly with your spouse, then MAGI should be $400,000 or less.
- The child must be a citizen of the United States
How much you can get in your Additional Child Tax Credit tax refund? – The taxpayers who qualify for the Additional Child Tax Credit can get a maximum amount of $2000 per qualifying child.