In New York, the Child Tax Credit (CTC) continues to be issued. In fact, the August payments are already being made as planned. This is a stimulus check intended for low-income families.
This is good news for New York parents who, if they qualify, will get thousands of dollars through the CTC, depending on the case.
Governor Kathy Hochul announced that $350 million in supplemental payments will be given to low- and moderate-income residents.
“One million New York families will receive a check in the mail at the end of August. Depending on their income and family size, some people will receive $330.00 USD per child. If you have three children, that’s $1,000 USD in your pocket,” Hochul said.
How do I qualify for the CTC in New York?
To receive the Child Tax Credit stimulus check In New York, parents do not have to meet any requirements. The state will send money to parents based on their income from the previous fiscal year.
According CBS News y Times Unionparents in New York State can receive up to $330.00 USD per child during this month.
Parents who received at least $100.00 USD of the Empire State Child Credit, which refers to the refundable state child credit, on their most recent tax returns will be eligible.
The August CTC stimulus check in New York is calculated based on the parent’s federal adjusted gross income on their returns.
If it is less than $10,000 USD, the payment will equal the amount received by the parent from the Empire State Child Tax Credit.
Parents with higher incomes will receive less money, but can expect at least 25% of what they got from the credit.
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