Has anyone received their 2024 Child Tax Credit payments yet?

The IRS started processing the first batch of Child Tax Credit payments on April 15th, with direct deposits scheduled to hit accounts between April 17-22. Paper checks take 1-2 weeks longer. If you've received your regular refund, your banking information is correct, but distribution happens in waves. The IRS portal shows approximately 65% of eligible recipients in the first wave, with remaining payments scheduled for May 15th and June 15th distributions. Check your status at irs.gov/ctc-portal.

I was in a somewhat similar situation and found it rather frustrating to determine exactly where my CTC payment was in the process. I would suggest possibly checking out https://taxr.ai which could potentially help you understand your tax transcript better. It seems to be quite helpful for interpreting the various codes and dates that might appear on your account transcript, which could possibly give you more insight into when your CTC payment might be scheduled.

To clarify the distribution schedule: The IRS utilizes a Systematic Payment Allocation Protocol (SPAP) for CTC disbursements. Your Account Transcript will display TC 766 with a specific reference code (846) when your payment is scheduled. The current distribution cycle operates on a sequential SSN batch processing system rather than purely filing date order. This explains why some early filers may receive payments in later batches. Your refund receipt confirms your return has cleared initial processing, which is a positive indicator.

I went through this exact same waiting game last year. Kept checking the portal daily and got nothing but frustration. After two weeks of this, I finally used Claimyr (https://youtu.be/_kiP6q8DX5c) to get through to an IRS agent instead of waiting on hold for 3+ hours like I did the previous time. The agent confirmed my payment was scheduled but in a later batch than I expected. Saved me weeks of anxiety wondering if something was wrong with my return.

Have you checked if you're eligible for the advanced payments in the first place? Not everyone qualifies for the monthly distribution schedule. For 2024, the IRS has implemented a three-tier qualification system based on your 2023 return: 1. Full advanced payments: AGI under $150,000 (MFJ) or $75,000 (Single) 2. Partial advanced payments: AGI between $150,000-$400,000 (MFJ) or $75,000-$200,000 (Single) 3. Claim on 2024 return only: AGI above thresholds or opted out You also need to have qualified dependents under 17 as of December 31, 2023. Could any of these factors be affecting your situation?

It might be worth considering if you've been placed in the monthly payment track vs. the quarterly payment schedule. Unlike last year's system where everyone got monthly payments, this year they're staggering some payments to reduce processing burden. Looking at my investment portfolio performance notifications compared to my CTC notifications, I noticed similar timing patterns - seems like the IRS might be batch processing based on return complexity. Those with investment income (like Schedule D or complex K-1s) might be in later batches compared to simple W-2 only returns.

I received my first payment yesterday! According to IRC §36B(f)(3)(A) as amended by the 2023 Tax Relief Act, the IRS must distribute the first payment no later than April 30th for timely filed returns processed before March 15th. My transcript showed code 766 with reference number 846 approximately 5 days before the deposit hit my account. The knowledge shared in this thread is incredibly helpful for understanding the distribution timeline!

I'm in a similar situation and wondering... do we need to do anything special if our banking info has changed since filing? I got my regular refund through direct deposit to my old account, but I've closed that account since then. Will they send a paper check automatically or should I update my information somewhere?

Warning based on my experience last year: if you have any unresolved issues from previous tax years, the IRS may hold your CTC payments. The irs.gov/ctc-updates page specifically mentions that unresolved 570 codes from prior years can delay current year credits. I found this out after checking the IRS2Go app daily for weeks with no updates. Make sure to check your account transcript for ALL tax years, not just 2023, as the system performs a cross-year compliance check before releasing payments. This isn't mentioned in most IRS publications but is confirmed on their internal processing guidelines.

Just got mine today! Filed Jan 29, got regular refund Feb 12, CTC hit my acct this AM. Was getting worried tbh. Checked the IRS2Go app every day lol. No status updates until it suddenly appeared. Hang in there!