When Will the $300 Child Tax Credit Payments Begin?

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This article covers Child Tax Credit (CTC) program by the U.S. government, aimed at supporting families with the cost of raising children. It details the monthly payments starting on July 15, 2024, explains the eligibility criteria, and offers guidance on how to check payment status and what to do if payments are not received.

$300 direct deposit child tax credit irs

child tax credit 2024 payments

$300 Child Tax Credit Starting Date

Starting July 15, 2024, the IRS will send monthly payments to eligible families:

  • $300 per month for children under 6 (totaling $3,600 annually).
  • $250 per month for children aged 6 to 17 (totaling $3,000 annually).

The first payment will be made around mid-July. Payments will continue on the 15th of each month. If the 15th is a holiday, payments will be made on the next business day.

Who Will Receive the $300 CTC?

To qualify:

  • The child must be under 17 at the end of the tax year.
  • The child can be a direct descendant, stepchild, foster child, sibling, or other relative living with you.
  • Families must have filed a federal tax return for 2023, signed up for the 2023 Economic Impact Payment Program, or registered through the IRS non-filer sign-up tool.

The IRS will use your 2023 tax return to determine the payment amount, or your 2022 tax return if the 2023 return is not available.

$300 child tax credit 2024

How to Check Your $300 CTC Status

Track your payment status online at the IRS website or using the IRS2Go mobile app. You’ll need your Social Security Number (SSN) or ITIN, filing status, and payment amount.

If you filed a paper return, expect some delay. Payments usually take 21 days to process, but errors or additional reviews can cause longer delays.

What to Do If You Don’t Receive Your Payment

  • Ensure you meet all eligibility criteria.
  • Verify and update your bank information with the IRS.
  • Contact the IRS through their website or helpline.
  • Use the “Where’s My Refund” tool on the IRS website to track your payment.

All we Know

  • Families can update their information through the Child Tax Credit Update portal.
  • Eligibility is based on tax returns from 2021, 2022, or 2023.
  • Married couples earning up to $150,000, heads of households earning up to $112,500, and individuals earning up to $75,000 qualify for the full credit.
  • The child must have a valid SSN and live with the taxpayer for over half the tax year.

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