Attention New Jersey Parents! Check Your Bank Account For A New IRS Deposit
Do you have a kid?
Then more money might be coming your way!
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This money is being looked at as a "temporary booster" but for it to continue through 2022, a new bill would have to be passed. I know....WOMP!
If you haven't double checked, you may want to take a look at your bank account because another expanded child tax credit was just been sent out TODAY!
Let me just remind you of some information on this expanded child tax credit.
To be eligible for this extra cash, you must be:
1. A family who makes up to $150,000 as a couple.
2. A parent filing as head of household making up to $112,500
3. A single parent filing alone making up to $75,000.
The payments will range between $250 and $300 per month and will depend on your income that you filed for 2020 taxes, how many kids you have and what their ages are.
If you child is 6 years old and under, you will receive $300 per month.
If you child is between 7 and 17 years old, you will receive $250 per month. (Kind of surprising. Aren't teenagers more expensive than babies?)
FYI: If you have a child that is older than 17 years, use this calculator to see if you are still eligible because you may be able to get a partial payment.
These payments should just show up in your account via direct deposit. If not, take a look at the Child Tax Credit Portal for more information because your payment may be pending.
If you are expecting the money to come via direct deposit and it is at least 5 days late OR if you are expecting the money via a paper check and it is at least 4 weeks late, request a payment trace HERE.
So check your account and if money is not there, make sure you take the proper steps to find out how much you are owed from the IRS and when it should arrive.
If not, money may be falling through your fingers.
Sources: NJ.com, NJ.com, CNet.com, CNet.com