Good news for all low to moderate-income families with children who qualify for the state’s child tax credit program in New York! During a news conference at the Capitol in Albany, N.Y., on July 30 (2024), Governor Kathy Hochul announced that these families will receive additional financial help starting next month, i.e., August first week.
Hochul stated that one million New York families with children will receive a check in the mail by the end of August. She said that the state knows the families’ incomes and eligibility and is trying to make their lives easier so that they do not have to file papers online.
Hochul announced that one million families will receive direct financial assistance of about $350 million. Depending on income and family size, some families will receive $330 per child, i.e., if a family has three children, they will receive $1,000.
This is in the wake of the rising expenses. The govt mentioned that childcare costs have increased by 20%, but wages haven’t, which is putting a lot of pressure on working families. Because of this, she feels that many are leaving New York, which might affect the state’s long-term viability. She also assured that she will never stop fighting to address the cost of living for working parents and help them create a better and brighter future for their children. She added that this move is to make New York livable and affordable.
Eligibility Criteria
All families who meet the following conditions will receive the check automatically through mail:
- Parents who have received at least $100 for the New York State Empire State Child Credit in 2023
- Families who have submitted their taxes on time
- Married couples earning $110,000 or less
- Single parent earning $75,000 or less
- Married couples who file separately and earn $55,000 or less
How to get Child Tax Credit Checks?
Every eligible parent can claim the tax credit by completing Form 1040 and U.S. Individual Income Tax Return and attaching a completed Schedule 8812, Credits for Qualifying Children and Other Dependents.
When Will You Get The Check?
There is no specific delivery date. Eligible taxpayers will have to monitor their mail. The state will start sending mail in August 2024.
What Amount Will You Receive?
The payment percentage depends on your salary and might range between 25% and 100% of the child credit you received in 2023. If the amount varies from what you calculated, it might be due to the adjustments made to your credit amount.
Reportedly, this supplemental payment is for this year only.
For more information, you can click here.
