@Oakleigh With rampant inflation and increased ages, 2 earner families, less and less people may qualify.
Feb. 27 is the earliest date it could be paid. According to the IRS, the agency cannot issue refunds involving the additional child tax credit (and the earned income tax credit) before mid-February. It is required to use the extra time to prevent fraudulent refunds.
If you haven't received your money yet and you're claiming the credit, you should be able to see your projected deposit date by checking the IRS' Where's My Refund tool.
To be a qualifying child for the 2023 tax year, your dependent generally must:
- Be under age 17 at the end of the year
- Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of one of these (for example, a grandchild, niece or nephew)
- Provide no more than half of their own financial support during the year
- Have lived with you for more than half the year
- Be properly claimed as your dependent on your tax return
- Not file a joint return with their spouse for the tax year or file it only to claim a refund of withheld income tax or estimated tax paid
- Have been a U.S. citizen, U.S. national or U.S. resident alien
You qualify for the full amount of the 2023 Child Tax Credit for each qualifying child if you meet all eligibility factors and your annual income is not more than $200,000 ($400,000 if filing a joint return).
Parents and guardians with higher incomes may be eligible to claim a partial credit.
Use our Interactive Tax Assistant to check if you qualify.
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