$300 IRS Child Tax Credit 2024: Are You Eligible? Direct Deposit Dates Revealed

The recent stimulus check rumor that $300 for the IRS CTC direct deposit will be given in the final week of December 2024 has generated a lot of excitement.

However, even reliable sources like the Social Security Administration or the Internal Revenue Service are unable to verify this type of information.

The Internal Revenue Service established a financial aid program called IRS’s CTC with the goal of easing the financial strain on parents. The CTC benefit is genuine, even if the $300 payment is false information.

The IRS CTC was created to incentivize middle-class and low-income taxpayers by providing up to $2,000 for specific children between the ages of 6 and 17.

Eligibility Criteria

The recipient must be 16 years of age or younger on December 31, 2024, in order to qualify for IRS CTC benefits 2024. A dependent family member, such as a kid, sibling, or grandchild, must be present for the claimant to be eligible.

In addition to giving the dependent no more than 50% of their income, caregivers are required to include the dependent on their tax return.

Furthermore, the dependant must spend a minimum of six months of the year living with the claimant. You must fulfill these requirements in order to be eligible for the $300 IRS CTC payment linked to the program.

 Payment Schedule

The $300 IRS CTC Direct Deposit payment is expected to start as a monthly benefit in December 2024, according to many conjectures. Unofficial reports state that December 15, 2024, a Sunday, is the anticipated date of payment.

According to the previous year’s tax return, the primary CTC credit amount for 2024 is $2,000 for each eligible child. When determining an applicant’s eligibility, the income cap is $200, 000 for single applicants and $400, 000 for married applicants.

Despite the fact that many people are aware of the Fekito story and have seen images of a purported $300 payment per month, no reliable source has ever come forward to support it.