Families should rejoice! For the 2025 tax year, eligible households will receive refunds of up to $3,500 per child through the Child Tax Credit (CTC). This blog provides the clearest explanation of eligibility, claim procedures, and payment dates.
What is the Child Tax Credit (CTC)?
One IRS benefit that helps families with the expense of raising children is the Child Tax Credit. The credit has been increased to up to $3,500 per child for the 2024 tax year (filed in 2025), providing additional assistance to low- and middle-income families. —
In 2025, How Much Can You Get?
What is on the table is as follows:
It, $1,700 is refundable, so even if you don’t owe any taxes, you can still get that sum back as a tax refund. Parents, particularly those with several children, may benefit greatly from this increase.
Who Can Receive the $3,500 Child Tax Credit?
You need to fulfill these requirements in order to be eligible:
The child must be younger than 17 by the end of 2024. For more than half of the year, the child must reside with you. On your tax return, you have to list them as a dependent. The child needs to be a resident or citizen of the United States and have a current Social Security number. Your earnings ought to be below these thresholds: For single filers, no more than $200,000. For married couples filing jointly, $400,000 or less.
If your income goes above the limit, your credit amount is gradually reduced.
When Can You Expect to Receive Payment for Your Child Tax Credit?
It is anticipated that refunds, including the Child Tax Credit, will begin to be issued in mid-to-late February or early March 2025 if you: Taxes should be filed early (January–February). Make use of direct deposit. Make sure your return is error-free. Pro tip: To receive your refund more quickly, choose direct deposit and file electronically.
The Child Tax Credit Claim Process
Here is a basic checklist to adhere to:
1. Get your identification, proof of income (such as a W-2 or 1099), and your children’s Social Security numbers.
2. Use tax software or IRS Free File to file your tax return.
3. Fill out Schedule 8812, which aids in determining the amount that is refundable.
4. Send in your return and watch for your reimbursement!
Will Monthly Payments Return?
Monthly advance payments for 2025 have not yet been confirmed. The majority of families will get the credit all at once when they get their taxes back. Keep checking back because the IRS will update the procedure if Congress makes any changes.
What Would Happen If You Got Married in 2024?
Well done! You can include your child on your 2024 taxes (filed in 2025) if they were born in 2024. Just confirm that they fulfill the prerequisites for eligibility. Before filing, remember to obtain your newborn’s Social Security number!
Frequently Asked Questions: Fast Responses to Typical Inquiries
Am I eligible if I didn’t make much money?
Absolutely! You might be eligible for the refundable portion of the credit if you made at least $2,500.
Should I still receive the credit if I have no taxes owed?
Absolutely. Even if you owe no federal tax, up to $1,700 per child is refundable. I didn’t file taxes the previous year.
Am I still able to claim the credit?
To claim the Child Tax Credit, you have to submit your 2024 tax return in 2025 even if you didn’t file last year.
What happens if my kid turns 17 in 2024?
Regrettably, they will not qualify. On December 31, 2024, the kid has to be under 17.