Hundreds of thousands of New Jersey families may be eligible for extra financial relief this tax season. Under the American Rescue Plan, the child tax credit was increased from $2,000 to $3,600 for every child under age six and $3,000 for children between ages 6 and 17.
Families received the first half of these tax credits between July and December last year, but advocates say many families don’t realize they must file their tax return to get the second half of the payments. Earned income tax benefits were also increased from $540 to up to $1,500 for workers without dependent children. Eligibility for the earned income tax credit has also been expanded for workers in the 19-24 age group for those who are 65 and older.
