Eligible residents in New York could will receive an amount of $1,600 or more if they meet the criteria set by the state.
$1,600 Additional Money for New Yorkers
Eligible residents in New York are set to receive extra money of $1,600 or more through the Child Tax Credit. It is a federal program that allows taxpayers to collect an amount of $2,000 for every child under the age of 17 but there are states that offer separate CTC.
In a published article in The U.S. Sun, New York currently gives $1,600 in direct payments regardless of the income of the parents. Meanwhile, a bill is now moving to the Senate that aims to increase the amount of Child Tax Credit. If this gets approved, eligible parents will receive an increased CTC.
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Are You Qualified?
According to an article published in PIX11, here are the criteria to qualify for the Child Tax Credit in New York:
- Be under age 17 at the end of the year
- Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of one of these (a grandchild, niece or nephew)
- Provide no more than half of their own financial support during the year
- Have lived with you for more than half the year
- Be properly claimed as your dependent on your tax return
- Not file a joint return with their spouse for the tax year or file it only to claim a refund of withheld income tax or estimated tax paid
- Have been a US citizen, US national, or US resident alien
Furthermore, those who meet all the criteria will receive the whole amount of the 2023 Child Tax Credit.
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