$1500 Stimulus Check Direct Payment 2024- When the Payment is Coming this Month & Who is Eligible?

This article will scrutinize the recent news on upcoming $1500 Stimulus Check Direct Payment 2024. These payments are said to be coming for beneficiaries of ANCHOR program in the U.S. state of New Jersey. The name of this program is an acronym that stands for Affordable New Jersey Communities for Homeowners and Renters. The objective of this Direct Payment of Stimulus Checks worth $1500 is to provide additional funds for reducing financial burden on homeowners and renters in New Jersey.

$1500 Stimulus Check Direct Payment 2024

The provincial government of New Jersey has been giving tax rebate to responsible taxpaying homeowners and renters who satisfy the eligibility criteria associated with ANCHOR program. This tax rebate not only helps eligible households but also promote good taxpaying behavior. The financial relief provided under the ANCHOR program intends to address the issue of less income and high expenses, which is been experienced by the residents of New Jersey. The said tax rebate is given on the property taxes that are annually paid by the residential property owners, i.e. homeowners, and consequentially adds up to the rent that is paid by the renters.

$2400 Extra Benefit Checks 2024

$914+$2400 Double Stimulus Checks 2024

$2,038 Direct Deposit Payment Approved for Seniors

These payments of Stimulus Checks worth $1500 will be made directly into the bank accounts of beneficiaries who have qualified under ANCHOR program. These additional funds will further improve the financial resilience of these households against the frequent hikes in inflation rates. This article will provide crucial information about the Direct Payment of Stimulus Checks worth $1500, which will help the potential beneficiaries in claiming their respective benefits.

$1500 Stimulus Check Direct Payment 2024 Overview Details 

Title 

$1500 Stimulus Check Direct Payment 2024

Country of Implementation

The United States of America

Related State

New Jersey

Associated Department

The New Jersey Division of Taxation

Program

ANCHOR

Intended Beneficiaries

Homeowners and Renters in New Jersey

Expected Amount

$1500

Type

Stimulus Check

Payment Frequency

One-time

Current Status

Unconfirmed

For More Information

https://www.nj.gov/treasury/taxation/anchor/

$1500 Stimulus Check Direct Payment 2024- When the Payment is Coming this Month & Who is Eligible?

What is ANCHOR Tax Rebate Program?

As mentioned previously, the ANCHOR tax rebate is provided to residents of New Jersey who have duly paid their annual property taxes. The tax relief is intended for both homeowners and renters who either owns or rents a property as their main residence in New Jersey. Additionally, there are certain eligibility criteria that are to be satisfied for claiming tax rebate under ANCHOR program, which will be discussed in the next section of the article. The base year for considering the residency, income and age of the claimant for the purpose of these tax rebates under ANCHOR is the year 2020.

Those claimants, who have already filed their claim applications after duly paying their property tax for the year 2020, will be receiving this Direct Payment of Stimulus Checks worth $1500. The rebate payments will be made within 90 days from the date of filing the claim application, unless the applicant is asked to provide additional information. The claimants can visit the official website of the New Jersey Division of Taxation to check the status of their claim application.

Eligibility Criteria for $1500 Stimulus Checks Direct Payment

The following criteria are to be satisfied for receiving tax rebate benefits under ANCHOR program:

For Homeowners –

  • The claimant needs to be a resident of New Jersey;
  • The claimant needs to own and occupy a residential property as principal residence in New Jersey before October 1st, 2020;
  • The claimant has duly paid their property tax for the said residential property associated with the year 2020;
  • The claimant had have earned and annual gross income of up to $250,000 in the year 2020.

For Renters –

  • The claimant needs to be a resident of New Jersey;
  • The claimant needs to rent and occupy a residential property as principal residence in New Jersey before October 1st, 2020;
  • The claimant’s name needs to be on the rental agreement or lease;
  • The claimant had paid the rent without any dues;
  • The claimant has duly paid their property tax for the said residential property associated with the year 2020;
  • The claimant had have earned and annual gross income of up to $150,000 in the year 2020;
  • The rental property had been subjected to taxes under local property tax laws.

If any claimant, i.e. homeowner or renter, satisfies the aforementioned eligibility criteria and has duly submitted their claim application under ANCHOR program will be receiving this Direct Payment of Stimulus Checks worth $1500.

$1500 Stimulus Check Payment Under ANCHOR Program

  • The claimant needs to file their tax return using the tax form – NJ-1040 (New Jersey Income Tax Return).
  • The amount delivered as ANCHOR tax rebate depends on the income and age of the claimant:

For homeowners –

Goss Income in 2020

Benefit Amount

Age up to 64 years in 2020

Age at least 65 years in 2020

Up to $150,000

$1500

$1750

Between $150,001 and $250,000

$1000

$1250

For renters –

Age in 2020

Benefit

Up to 64 years

$450

Age at least 65 years

$700

$1500 Stimulus Check Direct Payment 2024 Important Points

  • The claimant, upon successful qualification, will be receiving an ANCHOR Benefit Confirmation Letter. The claimant is advised to verify that all the details provided therein as correct otherwise their upcoming payment will be lapsed.
  • The claimants will be granted an Identification Number and PIN to login to their respective accounts for tracking their tax rebate status and other associated activities.
  •  If the personal information, such as name or banking details, had changed after filing claim application for the year 2020, then the changes need to have been updated by the claimant before the deadline of September 30th, 2023. If the claimants failed to do so then their respective tax rebate payment will be made using the information that was mentioned in the claim application initially.
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