Author Topic: Additional New York State child and earned income tax payments  (Read 1644 times)

Offline yosefsv

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Additional New York State child and earned income tax payments
« on: September 09, 2022, 04:00:36 PM »
Governor Kathy Hochul and legislative leaders announced $475 million in tax relief for eligible low-income New Yorkers and families as part of the state's ongoing effort to combat inflation and improve affordability. The New York Department of Taxation and Finance will soon begin sending direct financial assistance to 1.75 million New Yorkers who received the Empire State Child Credit and/or the Earned Income Credit on their 2021 state tax returns. New Yorkers can expect to receive their checks by the end of October.   

"With this relief package, we're making good on our commitment to helping hardworking New Yorkers through the nationwide affordability crisis," Governor Hochul said. "This program will put money back in the pockets of nearly two million New York families struggling to make ends meet in the face of the pandemic, inflation, and other rising costs."

The 20222023 NYS budget provides for one-time checks to eligible taxpayers for two separate payments:
one based on the Empire State child credit, and
one based on the earned income credit (or noncustodial parent earned income credit).

https://www.tax.ny.gov/pit/child-earned-payments.htm
If it benefits even just one fellow DDFer, its worth posting it.

Offline oldguy

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Re: Additional New York State child and earned income tax payments
« Reply #1 on: September 11, 2022, 12:25:24 AM »
Governor Kathy Hochul and legislative leaders announced $475 million in tax relief for eligible low-income New Yorkers and families as part of the state's ongoing effort to combat inflation and improve affordability. The New York Department of Taxation and Finance will soon begin sending direct financial assistance to 1.75 million New Yorkers who received the Empire State Child Credit and/or the Earned Income Credit on their 2021 state tax returns. New Yorkers can expect to receive their checks by the end of October.   

"With this relief package, we're making good on our commitment to helping hardworking New Yorkers through the nationwide affordability crisis," Governor Hochul said. "This program will put money back in the pockets of nearly two million New York families struggling to make ends meet in the face of the pandemic, inflation, and other rising costs."

The 20222023 NYS budget provides for one-time checks to eligible taxpayers for two separate payments:
one based on the Empire State child credit, and
one based on the earned income credit (or noncustodial parent earned income credit).

https://www.tax.ny.gov/pit/child-earned-payments.htm
I didn't file taxes yet and I didn't file for an extension either, Any hope for me?

Offline cgr

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Re: Additional New York State child and earned income tax payments
« Reply #2 on: September 12, 2022, 05:53:40 AM »
-Empire State Child Credit check your 2021 NYS Tax Return (Form IT-201), line 63- if this line is blank you are not eligible
To compute credit amount:
check your 2021 NYS Tax Return (Form IT-201), line 19a:
-if line 19a is less than $10,000: credit will be 100% of line 63
-if line 19a is equal to or greater than $10,000 but less than $25,000: credit will be 75% of line 63
-if line 19a is equal to or greater than $25,000 but less than $50,000: credit will be 50% of line 63
-if line 19a is greater than $50,000: credit will be 25% of line 63

Credit must be at least $25 to qualify for a refund.

Offline cgr

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Re: Additional New York State child and earned income tax payments
« Reply #3 on: September 12, 2022, 05:54:31 AM »
-NY Earned Income Credit (or noncustodial parent earned income credit) check your 2021 NYS Tax Return (Form IT-201), line 65 (line 66 for the noncustodial parent earned income credit)- if this line is less than $100 you are not eligible

To compute credit amount:
Multiply line 65 (or 66) by 25%

Offline oldguy

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Re: Additional New York State child and earned income tax payments
« Reply #4 on: September 12, 2022, 01:40:59 PM »
-Empire State Child Credit check your 2021 NYS Tax Return (Form IT-201), line 63- if this line is blank you are not eligible
To compute credit amount:
check your 2021 NYS Tax Return (Form IT-201), line 19a:
-if line 19a is less than $10,000: credit will be 100% of line 63
-if line 19a is equal to or greater than $10,000 but less than $25,000: credit will be 75% of line 63
-if line 19a is equal to or greater than $25,000 but less than $50,000: credit will be 50% of line 63
-if line 19a is greater than $50,000: credit will be 25% of line 63

Credit must be at least $25 to qualify for a refund.
Can I still file taxes to be eligible? or I had to file taxes before Apr 18?

Offline cgr

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Re: Additional New York State child and earned income tax payments
« Reply #5 on: September 12, 2022, 02:22:26 PM »
Can I still file taxes to be eligible? or I had to file taxes before Apr 18?
As of now, if you didn't file 2021 yet, you won't be getting it. Things might change down the line.

Offline gozalim

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Re: Additional New York State child and earned income tax payments
« Reply #6 on: September 12, 2022, 02:33:11 PM »
how about if filed already for 2021, but state portion is still pending?

Offline cgr

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Re: Additional New York State child and earned income tax payments
« Reply #7 on: September 12, 2022, 02:35:13 PM »
how about if filed already for 2021, but state portion is still pending?
If it was filed in time then they'll issue the check once your return processes.