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Washington State introduces Working Families Tax Credit to benefit working families.
The Working Families Tax Credit is managed by the Washington State Department of Revenue (DOR), the state’s tax administration agency. (Photo: AL Com)
Working Families Tax Credit
In a move to support low-to-moderate-income individuals and families, Washington State has unveiled the Working Families Tax Credit.
The primary goals of the Working Families Tax Credit are to stimulate the local economy, foster racial equity, and enhance the financial stability and well-being of Washington residents and their families.
Eligible participants can receive refunds of up to $1,200 through this program, which mirrors the structure of the Earned Income Tax Credit.
The program is overseen by the Washington State Department of Revenue (DOR), the state’s tax administration agency.
According to The Times, to maximize the program’s reach, the DOR is actively seeking the support of businesses, unions, service providers, and other organizations working with eligible individuals to join the outreach efforts in promoting the initiative.
Detailed information about the program, along with frequently asked questions, can be found on the official website: http://www.workingfamiliestaxcredit.wa.gov.
By implementing the Working Families Tax Credit, Washington State aims to provide crucial financial assistance to its residents while fostering economic growth and equity within the community.
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Who is Eligible to Receive Working Families Tax Credit?
According to the Department of Revenue in Washington State, individuals and families are qualified for the Working Families Tax Credit if they meet all of the following conditions and requirements:
- should have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
- resides in Washington over half a year or on a minimum of 183 days in 2022
- must be at least 25 years of age and under 65 years of age
- have a qualifying child in 2022
- must have filed a federal tax return in 2022
- must be qualified to claim the federal Earned Income Tax Credit (EITC) on their 2022 tax return
Income Requirements
The tax credit amount varies depending on the number of qualifying children and their level of income. The maximum tax credit amount ranges from $300 to $1,200 depending on the number of eligible children (see table below).
| Number of eligible children | Applicant must earn less than the following income | Maximum tax credit amount | |
|---|---|---|---|
| Single | Married (filing jointly) |
||
| 0 | $16,480 | $22,610 | $300 |
| 1 | $43,492 | $49,622 | $600 |
| 2 | $49,399 | $55,529 | $900 |
| 3 | $53,057 | $59,187 | $1,200 |
The Applications will be accepted until December 31, 2023.
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