IRS $3600 Per Child CTC Payment Updates For 2024: Know Eligibility & Claim Process

IRS (Internal Revenue Service) is the American government agency who is responsible for administering and enforcing federal tax laws. The IRS usually audits taxpayers whenever it detects any irregularity in tax returns.

The government had initiated an American rescue plan to financially support citizens of the country who were affected by the COVID-19 pandemic, particularly those with children under the age of 17, that intensified CTC (Child Tax Credit) which was Administered by the Internal Revenue Service (IRS).

IRS $3600 Per Child CTC Payment Updates For 2024

In 2021, there was an expansion in Child Tax Credit Payments. The amount increased to $3,000 per child for the children who came under the age group of 6 to 17 years, and $3600 per child for children under 6, before that it was $2,000 per child.

The expansion in the Child Tax Credit plan helped reduce the financial burden of the citizens with low income as it provided a higher amount and ensured full refundability, which allowed families to receive the full amount even if they didn’t owe federal income tax, which offered crucial support during the hard time of the pandemic.

But, again the amount of Child Tax Credit reverted back to $2,000 per child for the children who come under the age of 17 in the tax year 2022, and the refundable portion of the credit for the year 2022 was $1,500 per child. But there have been some ongoing discussions to expand the Child Tax Credit or to introduce similar benefits.

Overview of IRS $3600 Per Child CTC Payment In 2024 

Name of Organization	Internal Revenue Service
Name of Program	Child Tax Credit
Country	United States of America
Amount	$3,000 to $3,600 Yearly
Age Criteria	6 to 17 years

IRS $3600 Per Child CTC Payment in 2024 

Citizens who have a dependent kid whose age is six or younger are eligible to get the full credit of $3,600.

Citizens who have a dependent kid who comes under the age group of 6-17 years are eligible to get credits of up to $3,000.

Eligibility Criteria 

To claim CTC, there is an eligibility criteria to qualify for the Child Tax Credit plan which is mentioned below.

• By the end of the tax year, the child must be under the age of 17 years.
• The child must be a citizen of the US and also must have a valid social security number.
• The child must have been living with his/her parents for more than half of the year and must be dependent on the tax return.

Relationship of the taxpayer

The relationship of the taxpayer with the child includes their biological or adoptive parent, their step-parent or foster parent, siblings, step-siblings or a descendant of a grandchild, niece or nephew. 

Income Limits

There have been some income limits to become eligible for the CTC, which are mentioned below:

• $150,000 for a married couple who are filing jointly.
• $112,500 for householders. 
• $75,000 for single filers which also includes married people who are filing individually.

How to claim Internal Revenue Service CTC payment?

To claim Internal Revenue Service CTC payment, taxpayers must gather tax documents and the proof of residency of their children, ensuring the eligibility criteria. Taxpayers should use IRS Form 1040 to file their tax return and in the ‘credits’ section of Form 1040, they must provide details for each child who is qualifying the eligibility criteria. 

In case the taxpayers are claiming an Additional Child Tax Credit (ACTC), then they should be completing Schedule 8812 and attaching it to their Form 1040.

Also, they should calculate their total income to determine if they meet the income limits for the Child Tax Credit. They must also include the amounts from IRS Letter 6419 if they have received advance Child Tax Credit payments. 

Home Page

https://www.easthamptonchamber.com/

Citizens who are taxpayers should consider e-filing their tax return for faster processing and refunds, and if they are filing a paper return then they should mail it to the IRS address listed for their particular state. For records, taxpayers must keep copies of the tax return and all other supportive documents. 

FAQs For IRS $3600 Per Child CTC Payment 2024