October 2022

NJ Tax Alert

Child Tax Credit The Division is introducing a new Child Tax Credit that reduces any tax owed and can result in an increased refund for a taxpayer. Beginning in Tax Year 2022, resident taxpayers with taxable income of $80,000 or less may qualify for a credit of a set amount for each child age 5 …

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2021 Child Tax Credit

The Internal Revenue Service reminds families that some taxpayers who claim at least one child as their dependent on their tax return may not realize they could be eligible to benefit from the Child Tax Credit (CTC).

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