Minnesotans with Child Tax Credits can receive advance payments

(KNOX) – Taxpayers who qualify for Minnesota’s nation-leading Child Tax Credit will have the option to receive advance payments of the credit during the upcoming tax filing season.
Minnesota is the first state in the nation to offer this option for Child Tax Credit recipients.
Governor Tim Walz says, “This new option will increase financial freedom and ensure families have the support they need all year long.”
More than 223,000 tax returns claimed the new Child Tax Credit for tax year 2023, for an average total credit of $1,242. Walz says this tax credit put over $562 million into the budgets of Minnesota families this year.
If a taxpayer chooses the advance payment option during the upcoming filing season, they will receive their full Child Tax Credit for the current filing year, part of their following year credit in three advance payments sent in the second half of 2025, and the remaining part of the credit when filing their next income tax return.