February 7 2024- The article advises individuals claiming the child tax credit to consider holding off on filing their federal tax return for the current year. The Senate is working on expanding the child tax credit, and waiting to file may be advantageous. The child tax credit has both a refundable and nonrefundable component, allowing for a refund even if no tax is owed for the refundable portion. The article outlines the eligibility requirements for the child tax credit in 2024 and provides information on potential amounts. Additionally, it mentions the expected timing for receiving the child tax credit for the current year.
Child Tax Credit 2024: Should You Wait to File Your Tax Return?
< 1 min read
