Child Tax Credit: Could Your Tax Refund Arrive Tomorrow?
The IRS says most child tax credit refunds should be available in bank accounts or on debit cards by Feb. 27.
Katie TeagueWriter II
Katie is a writer covering all things how-to at CNET, with a focus on Social Security and notable events. When she's not writing, she enjoys playing in golf scrambles, practicing yoga and spending time on the lake.
ExpertisePersonal Finance: Social Security and taxes
Note that if you haven't received your refund yet, it could be because you claimed the child tax credit or the earned income tax credit. By law, the IRS is required to wait till the middle of February at the earliest to process and send credit money.
What is the child tax credit and additional child tax credit?
The child tax credit is a tax break families can receive if they have qualifying children. The amount a family can receive is up to $2,000 per child, but it's only partially refundable. That means if not all is applied to any taxes you owe to lower your tax bill, you may not receive the additional money left over.
The refundable portion is called the additional child tax credit, and this year the refundable amount is $1,600.
When to expect your child tax credit refund
The IRS told CNET that most child tax credit and earned income tax credit refunds should be available in bank accounts or on debit cards by Feb. 27 for taxpayers who have filed and chose direct deposit -- and there are no other issues with their return.
As of Feb. 17, the IRS told CNET, tax filers claiming the credit should be able to see their projected deposit dates by checking the agency's Where's My Refund tool.
The delay, according to the IRS, is because the agency cannot issue refunds involving the additional child tax credit (and the earned income tax credit) before mid-February. The agency, by law, is required to use the extra time to prevent fraudulent refunds.