As tax season approaches, multiple tax credit application deadlines are set for taxpayers to finish their applications.
Tax Credit Deadlines to Take Note
Wisconsin residents are given a short time to claim payments to relieve the burden of property tax bills. New Jersey’s ANCHOR benefit application is also closing soon. With this, taxpayers are pressured to accomplish the requirements on time. These programs are intended to provide property tax relief for qualifying Americans in the states.
According to the state’s Department of Revenue, Wisconsin residents who qualify for the state credit should fill out an application by January 31 to receive a credit worth $213 says The US Sun. On the other hand, New Jersey residents need an ANCHOR ID and PIN to apply for the program online or by phone by February 28 to receive a payment of up to $1,500.
Eligibility for Wisconsin Residents
Wisconsin residents can qualify for the Lottery and Gaming Credit if they owned a house or an apartment as of January 1 in the year for which the credit is being claimed. For 2022 claims, you must have owned a property on Jan. 1, 2022.
Eligibility for New Jersey Residents
New Jersey residents must own or rent their main residence on October 1, 2019, and meet the income limits to be eligible. The ANCHOR program will give property tax relief to the state’s homeowners and renters. $1,500 will be given to homeowners with an income of $150,000 or less and $1,000 to those with an income of more than $150,000 and up to $250,000. $450 will be sent out to renters with an income of $150,000 or less.