Child tax credit giving to people who claim a child on there taxes

Forum|Forum|1 year ago
July 18, 2024
2 replies
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Is my understanding that people who claim a child on there taxes will get money every month from government.

TurboTax Deluxe Online

Best answer by VolvoGirl

That is going around the internet. It is FALSE. It hasn't been passed by the Senate or signed yet. Everything you see (especially on the IRS) is about the credit and payments for 2021…2021,2021, 2021 and again 2021.

VolvoGirlAnswer

Employee

rjs

Employee

Your understanding is wrong.

There is a false rumor circulating on Facebook and other social media saying that the IRS will be making monthly child tax credit (CTC) payments starting July 15, 2024. There are no such payments. The information on social media is false.

xmasbaby0

Employee

ENHANCED CHILD TAX CREDIT BILL

There are currently a number of websites incorrectly saying that there will be advance child tax credit payments being issued in July 2024. Sorry—-this is untrue. There is a bill in Congress to enhance the child tax credit. It has not passed.

There are no monthly advance child tax credit payments for 2024. In tax year 2021 ONLY there were advance CTC payments sent from July 2021 to December 2021. There were no such payments in 2022, 2023, and no such payments being sent for 2024.

As of now, the child tax credit for 2023 is still $2000, with a refundable “additional child tax credit “ amount of up to $1600.

No one here knows if or when the proposed enhanced child tax credit bill will pass. It has gone through the House of Representatives and is now in the Senate—where 100 senators will decide whether to pass it. It has not been passed or signed into law. IF and when it passes, we do not know when they will make it effective or how it will be implemented. They are still wrangling with it so we do not know what it will look like when they are done. We do not know when or if they will put this to a vote.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**