CTC Payments 2024 – Child Tax Credit State-wise Payout!

The Tax Relief for American Families and Workers Act of 2024 expands the CTC, providing benefits to low-income families. Each qualifying dependent under 17 now receives a $2000 CTC, with $1600 potentially refundable, offering crucial financial support for children nationwide.

CTC Payments 2024

Enhancements to the Child Tax Credit:

• The House passed the Tax Relief for American Families and Workers Act of 2024, introducing expansions to the CTC scheme, benefiting low-income familie.
• The CTC amount for each qualifying dependent under 17 years old has increased to $2000, with $1600 potentially refundable.
• IRS Child Tax Credit Refund Date
• Additional Child Tax Credit Refund Date

State CTC Programs in 2024

The states offering Child Tax Credit 2024 are:

State	Maximum Credit Amount	Eligibility	Refundability
Arizona	$100 per dependent under 17	All taxpayers with dependents	Nonrefundable
California	Up to $1,000	Families earning under $25,000 (reduced credit for $25,000-$30,000)	Refundable
Colorado	Up to $1,200 per child	Families with income under $75,000 ($85,000 for married filing jointly)	Partially refundable
Idaho	$205 per child	All taxpayers with qualifying children	Nonrefundable
Maine	$300 per dependent	Resident taxpayers with qualifying dependents	Partially refundable
Maryland	Up to $500 per child	Families earning under $6,000	Refundable
Massachusetts	Up to $360 for multiple dependents	Families with dependents under 12	Partially refundable
Minnesota	$1,750 per child	Phases out for income above $29,500 (single) or $35,000 (filing jointly)	Refundable
New Jersey	Up to $500 per child	Families with income under $30,000	Refundable
New Mexico	$25-$600 per child	Income-dependent	Partially refundable
New York	33% of federal CTC or $100 per child	Eligible families	Partially refundable
Oklahoma	5% of federal CTC	Families with income under $100,000	Partially refundable
Oregon	$1,000 per child	Families with income under $30,000	Refundable
Utah	Up to $1,000 per child	Income-dependent	Partially refundable
Vermont	$1,000 per child	Families with income under $125,000	Refundable
Wisconsin	Up to $7,000 for multiple dependents	Income-dependent	Partially refundable

CTC Refund Eligibility 2024

To be eligible for the CTC refund, you must meet several criteria:

• Tax Filing: You must file a 2023 tax return by April 15, 2024 (October 15, 2024 with extension).
• Qualifying Child: You have a child under 17 at the end of 2023 who meets the IRS dependency requirements.
• Relationship: The child must be your son, daughter, stepchild, foster child, sibling, half-sibling, or descendant.
• Financial Support: The child cannot provide more than half of their own financial support in 2023.
• Living Arrangement: The child must have lived with you for more than half of 2023.
• Tax Status: You cannot file a joint return with your spouse (unless only to claim a refund of withheld income tax or estimated tax paid).
• Citizenship: You and your child must be U.S. citizens, U.S. nationals, or U.S. resident aliens.

CTC Refund Delay 2024

Several factors can impact the timing of your CTC refund in 2024, beyond the expected start date in mid-February 2024.

• E-filing: Electronic filing significantly speeds up processing compared to paper returns. Delays with paper-filed returns can be significant.
• Error-free return: Returns with errors or incomplete information trigger manual reviews, delaying your refund.Double-check everything before submitting.
• Direct deposit: Choosing direct deposit sends your refund straight to your bank account, bypassing the mail system and its delays.
• Claiming both CTC and ACTC: Filing for both the Child Tax Credit and the Additional Child Tax Credit may expedite your refund due to processing efficiencies.

• Claiming EITC: The Earned Income Tax Credit (EITC) involves additional verifications, delaying your refund until mid-February at the earliest.

CTC Refund Status 2024

For 2024, the most effective way to monitor the progress of your CTC refund is to use the IRS’s “Where’s My Refund?” service. This is how to apply it:

• Visit the IRS website at https://www.irs.gov/refunds/

• You’ll need to enter three pieces of information:
  • Social Security number (or Individual Taxpayer Identification Number)
  • Filing status
  • Exact dollar amount of your refund shown on your tax return (not including cents)
• Click “Track My Refund.”

The tool will display your refund status as one of the following: Return Received, Refund Approved, Refund Sent.

Go to NCBLPC Homepage To Get the Relevant Updates.