New $300-A-Month Tax Credit Available For Many Maplewood Families – Patch.com

MAPLEWOOD, NJ — A congressman who represents parts of Essex, Hudson, and Union counties wants area families to know the details of a new $300-per-month child tax credit for which they may be eligible when filing this year’s tax returns. Filers could start receiving the money as early as July.

The deadline for filing state and federal income tax returns this year was moved to Monday because of the pandemic. Those who can’t meet the deadline can file for an extension by Monday.

Rep. Donald Payne Jr. of the 10th District said the credit is part of the federal American Rescue Plan, for which he voted in February. READ MORE: Payne To Families: Claim New Child Tax Credit

The American Rescue Plan expanded the Child Tax Credit to up to $3,600 per child for children ages zero to 5 and $3,000 per child for children ages 6 to 17. Also, the plan authorized advance monthly payments of the Child Tax Credit through December 2021. Beginning as soon as July and running through December, qualifying families can get up to:

• $300 a month per child for children ages 0 to 5
• $250 a month per child for children ages 6 to 17

Families will get their remaining expanded Child Tax Credit when they file their 2021 tax return. Families will qualify for a full credit if their income is below $75,000 for single filers, $112,000 for people filing as head of household, or $150,000 for people who are married and filing jointly.