You may be newly eligible for NJ’s earned income tax credit

About 240,000 New Jersey residents who are eligible to benefit from the state's earned income tax credit do not apply.

Perhaps it's time to check whether you or someone in your family is in line for some extra money during tax season.

Ahead of the April 15 deadline for filing taxes, the New Jersey Department of the Treasury is reminding residents to find out if they're eligible for the state's benefit.

The average credit in New Jersey is around $826, and that's on top of the federal earned income tax credit.

"Though this credit puts money directly back in the pockets of many families, some taxpayers are unaware of the program and how to apply for it," said New Jersey Treasurer Elizabeth Maher Muoio.

New Jersey follows the same income limits as the federal government when it comes to eligibility, but the Garden State has increased the credit amount three times in recent years, and has lowered the minimum age eligibility from 21 to 18.

Income limits for earned income tax credit

New Jersey's share is 40% of the federal credit amount. For the federal credit, taxpayers can receive a credit of up to $7,430 with three or more qualifying dependents, or $600 without dependents.

To be eligible for the NJEITC, one must earn income, be at least 18 years old, have a valid Social Security number, and file a New Jersey Resident Income Tax Return.

About one in five New Jersey tax filers who are eligible for the credit are leaving money on the table, according to officials.