NYC Families Get Up To $300 Per Child Monthly Under Tax Credit

New York City NY

20 July, 2021

12:25 PM

Description

NEW YORK CITY — More than 250,000 New York City families with are eligible to receive up to an extra $300 per month per child under a new federal child tax credit program, Mayor Bill de Blasio said Tuesday. About $3 billion could be headed to city families with children 18 and under "if we do this right," Hizzoner said. The tax credit, which de Blasio characterized as "radical" and "revolutionary," will provide everyday people assistance raising their kids while cutting poverty by half. "Every parent out there knows raising kids is hard — it's hard in the modern age, it's hard in New York City," de Blasio said during his daily briefing. "You need all the help you can get. The fact our federal government finally recognizes how important it is to support families directly and give people a break, this is beautiful." New Yorkers could receive up to $300 per child every month as part of a federal child tax program. (NYC Mayor's Office) New Yorkers with children who paid their taxes in either 2019 or 2020 will automatically receive the money, but assistance is also available to those who did not file their taxes, de Blasio said. The payments will be made directly to New York City families with parents receiving $300 for per child for younger kids and $250 per child for older kids who are still under the age of 18. The tax credit program is projected to slash poverty by half and will provide New Yorkers assistance in helping to make ends meet, cover basic expenses or to put money away for college for their kids, de Blasio said. A family who earned $23,000 and didn't file a tax return in 2019 or 2020 and has a four-year-old child would be eligible for a tax credit of $12,500 under the plan, for example. Families who earned $68,000 or less can receive free tax assistance from the city. Officials will help residents who did not file their taxes in 2019 or 2020 get connected to make sure they receive the child tax credit. Residents can also call 311 to make sure that they are getting signed up if they did not file their taxes the previous two years, de Blasio said. "We do not want to leave a huge amount of money on the table that could help New York City families," the mayor said. Mayor Bill de Blasio said the city will provide free tax prep for families. (NYC Mayor's Office)