When will I get the 2023 child tax credit

[ee-ea]

After Congress passes the law and the President signs it.

[MayaD]

Did you claim the Additional child tax credit and you are asking where is your refund?

Per IRS: 

If you claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), you can expect to get your refund by February 27 if:

• You file your return online
• You choose to get your refund by direct deposit
• We found no issues with your return

Additionally, your financial institution may need time to accept your direct deposit or issue a debit card. 

To check the status of your refund:

• Where’s my refund
• IRS2Go app

[xmasbaby0]

ENHANCED CHILD TAX CREDIT BILL

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.

It is unlikely to affect your 2023 return; maybe enough members of Congress remember what a mess they created when they changed the tax law for taxing unemployment during the 2020 tax filing season in 2021 and will not want to do that to the U.S. public again in mid tax season.  Or maybe they will go ahead anyhow.  We do not know.   But if it affects you for 2023 they will have to provide a way for you to get the credit. Changing the tax forms and formatting them for tax software is a very complex process, so expect it to take a long time for them to sort it out if they even pass the bill.