$330 Child Tax Credit Direct Deposit: What You Need to Know

If you’ve seen posts or heard people talking about a $330 Child Tax Credit payment arriving this year, you’re probably wondering if you’ll get a direct deposit soon. Let’s set the record straight and break it down in simple terms.

The Truth About the $330 Child Tax Credit

Unfortunately, there’s no official $330 Child Tax Credit direct deposit scheduled for February 2025. The IRS hasn’t announced any new payments, and the current Child Tax Credit system doesn’t include this specific amount.

So where did this rumor come from? It’s likely due to ongoing discussions in Congress about expanding child benefits. While nothing new has been approved yet, it’s always good to stay informed in case changes happen.

What You Can Get Right Now from the Child Tax Credit

Although you won’t be getting a $330 direct deposit this month, the Child Tax Credit is still a great benefit for families. Here’s how it works:

• You can claim up to $2,000 per child under age 17 when you file your taxes.
• Up to $1,400 of the credit is refundable, meaning you could get that amount as part of your tax refund even if you owe no taxes.
• This program will stay in place through 2025 unless new laws are passed.

Do You Qualify for the Child Tax Credit?

To get the Child Tax Credit, you need to meet these requirements:

• Child’s age: The child must be under 17 at the end of 2025.
• Income limits: If you’re a single filer making more than $200,000 or a married couple earning over $400,000, the credit starts to phase out.
• Dependent status: The child must be claimed as a dependent on your tax return.
• Residency: The child must have lived with you for more than half the year.
• Citizenship: The child must be a U.S. citizen, national, or resident alien.

When Will Families Get Payments?

Currently, there are no monthly direct deposits like the ones families received in 2021 during the expanded Child Tax Credit program. Instead, you’ll receive the credit as part of your refund when you file your 2024 taxes in 2025.

If Congress approves new payments or monthly credits in the future, the IRS will let families know.