But there's also a deadline extension in the measure for low-income families and other parents who missed out on the state's "extra credit" grant late last year because of a tax software glitch. The grant program has been extended: "Under legislation signed into law February 10, 2021, individuals who missed the original Extra Credit grant deadline may be eligible to receive the $335 grant payment." If you filed a North Carolina income tax return for 2019, you do not need to take any action to receive the money. And perhaps some are also swayed to think that it is taxable since NC DOR has a subtraction for it on D-440 Sch. Original or amended returns must report qualifying dependents on Form D-400, Line 10a, by October 15, 2020, or the grant cannot be claimed. The North Carolina Coronavirus Relief Act 3.0 created an "extra credit grant" that allows for a one-time payment of $335.00 for an eligible individual. The language is necessary because of a tax software glitch that omitted information on certain returns last year, and NCDOR consulted with NCACPA in creating the approved language regarding the bill’s Extra Credit Grant … Tax preparers will be able to apply to NCDOR without having to submit an amended return. "On September 4, 2020, North Carolina passed a law that includes the North Carolina Extra Credit Grant program providing $335 to North Carolina families with qualifying dependent children. Grants to individuals for travel, study, or other similar purposes (including loans made for charitable purposes, and program-related investments) are taxable expenditures, unless the following conditions are met:. NC Governor extends application deadline for $335 Child Credit Grant check If you didn't receive the NC Child Extra Credit Grant check last year, … And perhaps some are also swayed to think that it is taxable since NC DOR has a subtraction for it on D-440 Sch. S line 33. Is the NC Extra Credit Grant payment ($335-) taxable? This extension allows parents who qualified for an NC Extra Credit grant but did not receive checks in 2020 apply for the grant through May 31, 2021. Many of us have had some reasons to believe that it is taxable. “The sponsors of the Extra Credit Grant Program included unnecessary barriers to access for the very parents who need financial support the most,” said Leila Pedersen, Policy Analyst at the NC Budget & Tax Center. Is the NC Extra Credit Grant payment ($335-) taxable? If you did not file a North Carolina income tax return for 2019 because you were not required to and you meet the criteria listed above, you might still receive the $335 if you apply for the Extra Credit Grant. S line 33. Many of us have had some reasons to believe that it is taxable. The new law extending the NC Extra Credit Grant program through May 31, 2021 only applies to eligible individuals who have NOT received the $335 grant. If you qualify, you will receive a $335 payment. However, please consider the following information. The extra credit grant is a $335 payment to you from the State of North Carolina.
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