If you have already received all the Economic Impact Payments from the IRS, it is time to look for an alternative stimulus check. It does not matter if it comes in the form of a tax rebate, tax credit, or Guaranteed Income Program.
In this case, pay special attention if you live in New Jersey. Some eligible beneficiaries in this state may receive a stimulus check worth $1,500. This payment is part of the ANCHOR Tax Relief Program for 2024.
ANCHOR stands for Affordable New Jersey Communities for Homeowners and Renters. While some beneficiaries may have received their money from January 2, 2024, others may still be waiting for their cash.
IS IT POSSIBLE TO FILE FOR THE NEW JERSEY STIMULUS CHECK?
According to the Official Site of the State of New Jersey for the Division of Taxation, the filing deadline was December 29, 2023. Therefore, you can no longer apply for this free money. But when will the stimulus check payments arrive if eligible?
It is more than likely that you collect your stimulus check about 90 days after you sent your application. Nevertheless, it may take longer if the Division of Taxation requires further information.
This program will be of great financial support to those citizens in New Jersey who own or rent a property. For your information, there are several requirements you must meet first.
Just like any other payment, this stimulus check is not for everyone. Bear in mind that there is a scam alert. So do not open any emails or text messages that seem suspicious. Scammers may want to steal your identity.
WHO IS NOT ELIGIBLE FOR THIS PAYMENT IN NEW JERSEY?
If your gross income is over $150,000 (renters) or $250,000 (homeowners) in 2020, you do not qualify for this stimulus check. Bear in mind that the Division of Taxation in New Jersey has set maximum amounts depending on your age.
What is more, homeowners and renters may not receive the same amounts. For example, if you are a homeowner, you can receive up to $1,500 if you are 64 or younger. Renters can get up to $700 if they are 65 or older, or up to $450 if younger than 65.
It could be up to $1,750 if you are a homeowner and you are 65 years old or older. The higher your gross income is, the lower your payment will be. If you do not receive your stimulus check on time, you should do this.
Contact the Division of Taxation so they can find out the reason why you did not receive your ANCHOR benefit payment. They claim that you can contact them at https://www.nj.gov/treasury/taxation/contact.shtml if you do not collect this benefit by January 12, 2024.