Tax season is underway, and for many, it’s a time of anticipation for those much-awaited refunds. However, you might need more time to receive your refund if you claim additional credits like the Child Tax Credit in 2024. Here’s what you need to know to navigate the process smoothly:
 Child Tax Credit 2024: Your Guide to Maximizing Your Tax Refund! (Photo from: Kiplinger)
Child Tax Credit 2024: Understanding the Delay
Expect tax refund delays if you’re among the millions seeking the Child Tax Credit or EITC. Taxpayers claiming these credits may wait at most 21 days for their return.
The IRS mandates delays in issuing refunds involving the Child Tax Credit and the EITC until mid-February to prevent fraudulent claims. This precautionary measure aims to ensure the integrity of the tax refund process, although it may extend the waiting period for some taxpayers.
While the delay in receiving your Child Tax Credit 2024 refund might test your patience, the IRS is working diligently to ensure a smooth and secure process for all taxpayers.
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Child Tax Credit 2024: When Will Your Refund Arrive?
For those expecting refunds related to the Child Tax Credit, the wait might extend until late February. The IRS projects that most additional Child Tax Credit-related refunds should be available in bank accounts or on debit cards by February 27, provided taxpayers opt for direct deposit and there are no issues with their tax returns. Some fortunate individuals may even see their payments deposited a few days earlier.
By February 17, the IRS’s “Where’s My Refund?” tool will update with expected deposit dates for most early EITC/ACTC refund filers. Keep updated with the Child Tax Credit 2024.
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