Davidson News

Davidson News

Families Can Relieve Stress with Child Tax Credit Refunds, But What if You Haven’t Received Yours?

Families can relieve some stress by receiving refunds for Child Tax Credits (CTCs), which give them back money that they are legally entitled to. But what happens if you haven’t received a refund? Who do you get in touch with?

Financial aid in the form of CTCs is given to families whose children meet certain requirements. They are designed to give eligible parents or guardians financial support and help defray some of the costs associated with raising children.

Through the CTCs, qualifying families could receive a credit for each qualifying child under the age of 17.

If your CTCs refund or payment has not been received, there are various actions you can consider:

  • Check that you meet the CTC eligibility requirements.
  • Check the IRS website or updates to see if there have been any delays or changes in the distribution of CTCs payments. Delays can occur for a variety of reasons.
  • If you still believe you are eligible, the IRS has online tools, helplines, and resources that can provide information about your payment status and potential issues.
  • Make sure your information with the IRS is up to date, including your address and bank account information.
    If you haven’t filed your taxes or provided the IRS with the necessary information, your CTCs payment may be delayed.

When can I anticipate receiving my Child Tax Credit refund in 2023?

Refunds for CTCs are anticipated to be issued by February 28, 2024, assuming that the taxpayer has claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), if the return was filed online, and that there are no problems with the return.

Although refunds may arrive sooner, claimants can view their own customized refund date by utilizing the “Check Where’s My Refund” feature. By no later than February 18, an update pertaining to the majority of initial EITC/ACTC claims must be given.

 

 

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