Depending on your income level and the number of qualifying children in your household, the Working Families Tax Credit is a new yearly tax refund available to residents of Washington. Here’s how to find out whether you qualify.
Eligibility For Working Families Tax Credit
Undocumented workers and other individuals who file their taxes using an Individual Taxpayer Identification Number (ITIN) are also eligible for this incentive. The deadline for applications is December 31st of each year, and the initial step in the application process is filing your federal tax return. Your income tax return could result in a cash refund of thousands of dollars through the Earned Income Tax Credit and the Working Families Tax Credit, even if you don’t usually file because your income is too low. The state legislature approved and provided funding for the Working Families Tax Credit (WFTC) in 2021. It is anticipated that the tax credit will assist one in three kids in the state and that it will reach over 400,000 households.
Earned Income Tax Credit
If they fulfill all the requirements, people and their families are qualified for WFTC. A valid Personal Taxpayer Identification Number or Social Security Number is required. You have to have spent at least 183 days (more than half the year) in Washington. In 2022, you have to be over 25 but under 65 or have a kid who meets the requirements. A federal income tax return for 2022 must have been filed by you. The federal Earned Income Tax Credit (EITC) must be available for a claim on your 2022 tax return.
Start date of applications: February 1, 2023; residents can verify their eligibility and submit through the Washington Department of Revenue. WFTC is available to families with mixed statuses including undocumented immigrants. Through December 31, 2023, applications will be accepted for the fiscal year 2022. The United Way of King County’s free tax preparation program provides free help with the WFTC application at 16 locations around the county, including El Centro de la Raza. The Department of Revenue’s Working Families Tax Credit Helpline can be reached at 360-763-7300, Monday through Friday, from 8:00 to 17:00, if you have any issues regarding the progress of your application.