The bill to expand the child tax credit is still stalled in the Senate. With less than a month left until Tax Day, you may wonder if it’s time to file your taxes instead of waiting on an uncertain bill, or if you should wait a bit longer if you’re claiming the credit. We’ll help you find out what’s going and what you should do.
The child tax credit — both the current credit and the one stalled in the Senate — is partially refundable, meaning that for a part of the credit you can get a refund even if you don’t owe any tax. The remainder is nonrefundable, so you can use that part of the tax credit only against taxes you owe. We’ll explain the requirements that must be met to be eligible for the child tax credit in 2024.
Find out below whether you should wait to file, if you’re eligible for the child tax credit in 2024 and how much money you could get. For more tax tips, here are this year’s filing deadlines and our picks for the best tax software. Here’s when you can expect to receive your child tax credit refund this year.
