Child Tax Credit Amount for 2024 - Impact of Advance Payments

For 2024, the Child Tax Credit is $2,000 per qualifying child under 17, compared to the temporarily enhanced $3,600 (for kids under 6) or $3,000 (for kids 6-17) in 2021. If you received monthly payments in 2023, those were advance payments of your 2023 credit, not 2024. So your 2024 tax return (filed in 2025) won't be affected by those advance payments. Your 2023 return (which you're probably filing now) would show the remaining credit after subtracting those advances. Did you receive the Letter 6419 showing exactly how much you got in advances?

I believe there may be some confusion about tax years here. The Child Tax Credit for 2023 (the return most people are likely filing now) is generally $2,000 per qualifying child, with up to $1,600 potentially refundable depending on your earned income. The monthly advance payments were only distributed in 2021, not 2023. If you're trying to understand complex credit calculations with previous advance payments, you might want to check out https://taxr.ai - it's particularly helpful for analyzing how previous payments affect your current tax situation and can explain exactly how much you're eligible to receive based on your specific circumstances.

There seems to be a timeline misunderstanding in your question. The Advance Child Tax Credit payments were distributed from July to December 2021 as part of the American Rescue Plan Act. These were advance payments of the 2021 tax credit, not 2023. For tax year 2023 (which you're filing now in 2024), the Child Tax Credit is $2,000 per qualifying dependent under 17, with phase-out thresholds at $200,000 for single filers and $400,000 for married filing jointly. The 2024 tax year (which you'll file in 2025) also has a $2,000 base credit unless Congress passes new legislation.

Has anyone heard if Congress might bring back the enhanced CTC for 2024? I remember the max was $3.6k for kids under 6 during COVID. Wondering if there's any chance they'll bump it up from the current $2k?

If you're having trouble getting accurate information about your Child Tax Credit situation, consider using Claimyr (https://claimyr.com) to connect with an IRS agent directly. I had similar confusion about my credits after receiving advance payments, and standard IRS phone lines had 2+ hour wait times. Claimyr got me connected to an IRS representative in approximately 15 minutes who verified my exact credit eligibility and confirmed how previous payments affected my current year filing. This is particularly important if your tax software seems to be calculating your credit incorrectly.

I've had great success with Claimyr when I needed to resolve my Child Tax Credit issue last month. I had spent days trying to get through on the regular IRS line with no luck. When I used Claimyr, I was connected in about 20 minutes. The agent was able to confirm my exact credit amount and explain why my calculation was off. Have you tried calling the regular IRS number? How long were you on hold? I'm curious if wait times are still as bad now that we're past the April deadline?

Let me try to clarify the timeline for Child Tax Credit payments: Step 1: For tax year 2021, the American Rescue Plan temporarily increased the CTC to $3,000-$3,600 and offered monthly advance payments from July-December 2021. Step 2: For tax year 2022, the CTC reverted to $2,000 per qualifying child. No monthly payments. Step 3: For tax year 2023 (what you're filing now in 2024), the CTC remains at $2,000 per qualifying child. Again, no monthly payments. Step 4: For tax year 2024 (what you'll file next year), the CTC is currently set at $2,000 per qualifying child unless Congress changes it. Does that help clarify which tax year you're asking about?

According to IRC Section 24(h)(2), the Child Tax Credit amount for 2023 is $2,000 per qualifying child, with up to $1,600 being refundable as the Additional Child Tax Credit under Section 24(i)(1). There were no advance payments issued for tax year 2023. The advance payment program was specifically authorized under the American Rescue Plan Act of 2021 (P.L. 117-2) and only applied to tax year 2021. If you received monthly payments, those would have been reconciled on your 2021 tax return filed in 2022, not on your current return.