Question

Is there a early child credit payments July 15th, for qualifying children?

Forum|Forum|1 year ago
July 13, 2024
7 replies
0 views

2024

TurboTax Live Deluxe Online

Employee

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.**

S

Shiggy08

https://ncblpc.org/300-direct-deposit-child-tax-credit/#:~:text=The%20IRS%20%24300%20Direct%20Deposit,children%20aged%206%20to%2017.

Here is another link. I appreciate you clearing the information up. It is nice to know that it has started the process, but isn’t official yet. Thank you Turbo Tax!

DoninGA

Employee

No, there is not any type of monthly payment for the Child Tax Credit in 2024. Nor was there any in 2023 or 2022.

That was only a one-time occurrence and only in 2021 for the the months of July thru December.

Where are you seeing this type of information? Could you post a link? Someone seems be posting totally erroneous information concerning the Child Tax Credit.

X

xmasbaby0

Employee

@DoninGA @rb101374 Yes----were are getting some questions about this from users who must be seeing some incorrect information somewhere that is setting them up to expect CTC payments for 2024. @rb101374 What made you think there might be payments going out on the 15th? Mischief/misinformation on social media?

**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.**

R

rb101374Author

Nothing to due with social media. I had a family member spreading false info and want to get information from a tax expert. I believe there's nothing wrong with asking questions?

T

Tpollock0210

Well to all that says we don't get payments. That's its false information. This on the irs.gov says we do.

https://www.irs.gov/newsroom/irs-families-receiving-monthly-child-tax-credit-payments-can-now-update-their-direct-deposit-information

T

Tigerkat1984

On that website you mentioned it says nothing found

M

Mike9241

https://www.irs.gov/newsroom/child-tax-credit-most-eligible-families-will-automatically-receive-monthly-payments-for-everyone-else-here-are-three-steps-to-get-help

notice the year for the thread 2021 not 2024

the House passed a law for the CTC for 2024. The Senate has not acted. So IT IS NOT LAW. Don't be surprised when it doesn't show up in your bank account on 7/15

see this blog

https://www.usatoday.com/story/news/factcheck/2024/06/17/irs-tax-credit-children-300-fact-check/74102415007/

J

jackie301

This is what is being said about it to make everyone think we are getting help every 15th of the month:

https://campcolley.org/300-child-tax-credit-update-2024-payment-date-new-eligibility-revealed/

J

Jenash

It’s on the IRS website

DoninGA

Employee

@Jenash wrote:

It’s on the IRS website

There is nothing on the IRS website concerning any type of Child Tax Credit monthly payment in 2024.

If there was you would have posted an IRS link.

M

Moodyspider

https://www.njleg.state.nj.us/bill-search/2024/S1568/bill-text?f=S2000&n=1568_I1

Well, it was enacted in NJ... It's really up to the state not the IRS.

M

Mike9241

the link is NJ law. There apparently are no advance payments though. Under the propose Federal law the credit would have gone up to $3600 per qualifying child with $300 per child advance payments starting July 15th. Since the federal law hasn't been enacted there will be no advance payments starting 7/15.

Q

Queen36

Dpwr or whatever it says up there will explain everything you need to know about the CTC.... It's all a scam, thank you and good day to everyone

C

CPANY

Well, I wouldn't say it's all a scam. There are several websites wanting people to click on them so they post incomplete information about the CTC that was PROPOSED but not yet approved. This goes for the Federal and for NJ. Those sites may seem like a scam, I can see that.