Urgent child tax credit payment warning as $415 million in cash remains unclaimed

An urgent child tax credit payment warning has been issued as $415 million in cash remains unclaimed.

Some 138,000 households – or 50% of eligible families – have yet to receive their child tax credit payments in New Jersey, a charity said.

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Up to $415 million in child tax credits remain unclaimed, charity says

United Way of Northern New Jersey is urging eligible families to file their taxes before the benefit expires.

The payment is part of last year’s US bailout that was expanded to help struggling families who earn above the poverty line but less than what is needed to afford the basics, according to United Way.

Chief executive Kiran Handa Gaudioso said: “By filing their taxes this year, families struggling to afford essentials could receive a much-needed financial lifeline.

“Any credit or refund they receive can mean the heating stays on; childcare is covered; the rent is paid.”

The think tank has partnered with the IRS to offer free tax preparation and filing services.

Recipients will be able to file their returns using a safe and secure online portal to file their state and federal returns.

The US bailout is President Joe Biden’s exceptional financial relief package for families hit hard by the pandemic.

The president’s plan has mounted a national vaccination program, containing Covid-19 and reopening schools safely.

The legislation will address the investments needed to meet Biden’s goal of safely reopening the majority of K-8 schools in his first 100 days in office.

Biden’s plan brought immediate economic relief to working families struggling financially with the Covid-19 crisis.

Under the proposal, people earning less than $75,000 would get the full $1,400 stimulus check, and couples earning less than $150,000 would be eligible to receive $2,800.

The plan will also extend unemployment benefits and give families with children and childless workers an emergency boost this year.

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