IRS to offer help on how to apply for child tax credit, stimulus payments, at 4 events in N.J. – NJ.com

The IRS is holding several weekend events with local partner organizations to help New Jerseyans register for the expanded child tax credit from the $1.9 trillion American Rescue Plan, the agency said.

The agency will also help people get any of the three stimulus payments that haven’t yet been received, it said.

The events are planned for Newark, Roselle, Paterson and Hoboken and agents will help people sign up for the credit, which could be worth as much as $300 per month per child.

“With the help of a new Non-filer Sign-up Tool on the IRS website, volunteers and IRS employees will assist eligible individuals and families get these important tax credits and benefits,” the IRS said. “Individuals do not need to have children to attend these events and sign up for Economic Impact Payments.”

On Friday, July 23, assistance will be offered at HOPES CAPS/Family Resource Center at 532 Jackson St., Unit 1B, in Hoboken. The session will run from 10 a.m. to 2 p.m.

Also on Friday, there will be a session at Agape House of Worship at 239 E. 1st Avenue in Roselle from 10 a.m. to 2 p.m.

Then on Saturday, July 24 from 9 a.m. to 6 p.m., assistance will be offered at the IRS Taxpayer Assistance Center at 200 Federal Plaza in Paterson.

The Newark session will be held on Saturday at the IRS Taxpayer Assistance Center in the Veterans Administration Federal Office Building at 20 Washington Place. The session will run from 9 a.m. to 6 p.m.

For these events, the IRS said people should bring Social Security numbers for their children, Social Security numbers or Tax Identification Numbers for themselves and their spouse, a reliable mailing address, an e-mail address and bank account information if they want to receive payments by direct deposit.

The IRS said direct deposits are the fastest way to get these funds, so it recommends people who do not have a bank account to visit the Federal Deposit Insurance Corporation (FDIC) website for details on opening an account online. They can also use the FDIC’s BankFind tool to locate an FDIC-insured bank.

For lists of banks and credit unions that allow you to open an account online, the IRS recommends you check out BankOn, American Bankers Association, Independent Community Bankers of America and National Credit Union Administration. Veterans can see the Veterans Benefits Banking Program at participating banks, it said.

The IRS also noted that the child tax credit is “refundable,” meaning that people can still get a refund even if they don’t owe income tax. But to get the funds, they will need to file a 2020 tax return or register with the Non-filer Sign-up Tool.

The child tax credit payments will go out on the 15th of each month for the rest of the year. The first monthly payment went out on July 15, and the next will go out on August 13 because the 15th falls on a Sunday.

The full child tax credit is $3,600 per child up to age 6, or $300 a month, and $3,000 per child ages 6 to 17, or $250 per month.

Single taxpayers who have adjusted gross income of up to $75,000 are eligible for the full payment, as are married couples who file a joint tax return and have income up to $150,000. People who earn more get a partial benefit until it phases out, going down by $50 for every additional $1,000 of income.

Those who are not eligible for the higher amounts can still claim $2,000 per child — the previous amount available — as long as adjusted gross income is below $200,000 for singles and $400,000 for those married people who file joint returns.

People who don’t want the monthly payments can opt out using the IRS’ Child Tax Credit Update Portal.

Those who sign up after July 15 can still get back payments based on when they register. The deadlines are 11:59 p.m. on each date:

• Aug. 2 for the Aug. 15 payment
• Aug. 30 for the Sept. 15 payment
• Oct. 4 for the Oct,. 15 payment
• Nov. 1 for the Nov. 15 payment
• Nov. 29 for the Dec. 15 payment

People can get the second half of the credit when they file their 2021 tax returns.

Please subscribe now and support the local journalism YOU rely on and trust.

Karin Price Mueller may be reached at KPriceMueller@NJAdvanceMedia.com.