$600 Child Tax Credit 2024: Check Eligibility Payment Date & Amount

$600 Child Tax Credit 2024: Attention, New Mexico taxpayers! Exciting news has emerged from the New Mexico Taxation and Revenue Department. This tax season brings a fresh opportunity for families across the state. Now, for the first time, eligible taxpayers can claim a child tax credit of up to $600 per child. This new credit aims to provide financial relief to families, offering a boost during tax time. The amount of the credit varies, starting from $25 and increasing up to $600 per qualified child. However, it’s important to note that the value of the credit decreases gradually as income rises. As tax-filing season kicks off, New Mexico families have a chance to benefit from this significant development.

New Mexico’s Taxation and Revenue Department just announced that in 2024, they’re planning to give $600 to families with kids. This money is expected to help about 292,000 households in New Mexico, totaling around $180 million. Governor Michelle Lujan Grisham thinks this is a big deal because it can reduce poverty among kids. I’ll keep you posted on who qualifies for this $600 Child Tax Credit 2024. Keep an eye on this page for more updates.

600 Child Tax Credit 2024
$600 Child Tax Credit 2024: Check Eligibility Payment Date & Amount

$600 Child Tax Credit 2024 Overview

Name of the articleScheme-related State Name
Scheme related State NameNew Mexico
Department related to the schemeMexico Taxation and Revenue Department
Category of the articlePublic welfare related financial scheme
Payment Amount$600
Official WebsiteCLICK HERE

$600 Child Tax Credit 2024 [claim a child tax credit of up to $600 per child]

If you’re a taxpayer in New Mexico and haven’t claimed the child tax credit yet, you can do so until you file your 2023 tax return. Eligible parents can receive up to $600 Child Tax Credit 2024 starting this tax season. The deadline for filing your tax return is April 15. If you need to make any changes to your file, do it quickly because tax season is almost over. It started on January 29 and ended on April 15 for those who waited until the last minute to submit their paperwork.

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Eligibility for New Mexico $600 Child Tax Credit 2024

Here below we have mentioned the eligibility criteria for child tax credit 2024 New Mexico

  • The $600 Child Tax Credit 2024 is aimed at assisting families, especially in New Mexico.
  • It’s essential to grasp the eligibility criteria for accessing this financial aid.
  • Residents in New Mexico with an adjusted gross income (AGI) of $25,000 or less qualify for the complete $600 per child.
  • Those falling within the $25,000 to $50,000 AGI range are entitled to a $400 credit per child.
  • Importantly, even if your AGI is below zero, you can still receive the full $600 credit.
  • Understanding these income thresholds is crucial for families to avail themselves of the support they require.

$600 Child Tax Credit Payment 2024

The New Mexico Taxation and Revenue Department predicts that the fresh child tax credit will bring in around $180 million. They also think it will help almost 300,000 families in the state. Officials say lots of families will get big help from this. You can see how much you might get from the New Mexico CTC 2024 in the table below:

Adjusted Gross IncomeCredit Amount Per Children
$0-$25,000$600 Dollar
$25,000-$50,000$400 Dollar
$50,000-$75,000$200 Dollar
$75,000-$100,000$100 Dollar
$100,000-$200,000$75 Dollar
$200,000-$350,000$50 Dollar
$350,000+$25 Dollar

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How You Can Claim Children Tax Credit 2024?

  1. New Mexico now gives families a big boost with a child tax credit starting in 2022. This means more money for families when they file their taxes. The state passed House Bill 547 last year to make this happen. Now, families can get up to $600 per child as part of their tax refund this year.
  2. Around 300,000 families in New Mexico will benefit from this tax credit. It adds up to $180 million in total, according to the New Mexico Taxation and Revenue Department. The best part is that families get this money even if they don’t owe taxes. That’s because the credit is refundable. And here’s some good news: while the federal government might tax this credit, New Mexico won’t.
  3. How much money families get depends on how much they earn. For those making $25,000 or less, they can get the full $600 per child. But if someone earns over $350,000, they’ll only get $25 per child.
  4. Even if you haven’t filed your taxes yet, you can still claim this credit. Just make sure to file by April 15 for paper returns or April 30 if you file electronically. This means more money in the pockets of New Mexico families, helping them provide for their children.

Payment dates of Mexico child tax credit

Even though the Child Tax Credit comes from the government, each state manages it differently. In New Mexico, families who qualify for the $600 Child Tax Credit 2024 will get this money. But how much they get exactly depends on how many people are in their family and how much money they make.

It’s important to know that you won’t get the money right away after applying. This is to make sure nobody steals your identity. The New Mexico Taxation and Revenue Department might send you a letter to check your tax forms.

Once they have all the information they need, it could take another six to eight weeks to make sure it’s really you. Don’t forget, there’s a deadline for applying. If you’re sending your application by mail, it needs to be in by April 15. If you’re doing it online, you have until April 30.


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