As of April 2025, the Internal Revenue Service IRS has commenced the distribution of Child Tax Credit CTC payments for the 2024 tax year. Eligible families can receive up to 2,000 per qualifying child under 17, with 1,700 of that amount being refundable, even if no taxes are owed. To expedite receipt, the IRS strongly recommends opting for direct deposit.
Key Details for 2025
Maximum Credit: 2,000 per child
Refundable Portion: Up to 1,700
Income PhaseOut Thresholds:
200,000 for single filers
400,000 for married couples filing jointly
Eligible Children: Must be under 17 by December 31, 2024, and possess a valid Social Security Number issued before the tax return due date.
Taxpayers claiming the Additional Child Tax Credit ACTC should note that, due to the PATH Act, refunds cannot be issued before February 15, 2025. However, those who file early and choose direct deposit may expect refunds by late February.
Monthly Advance Payments
In 2025, the IRS continues to offer monthly advance payments of 300 per qualifying child, typically disbursed around the 15th of each month. Families can manage their payment preferences and update banking information through the IRS Child Tax Credit Update Portal.
Looking Ahead
The current CTC provisions are set to expire after 2025. Without legislative action, the credit will revert to 1,000 per child in 2026. Families are encouraged to stay informed about potential changes and consult the IRS website or a tax professional for personalized guidance.
For more information and to manage your Child Tax Credit payments, visit the IRS Child Tax Credit Update Portalhttps:www.irs.govcreditsdeductionschildtaxcreditupdateportal.