Washington state came up with a new tax credit scheme, called the Working Families Tax Credit, earlier this year, and now there are just a few days left to apply for it. The Working Families Tax Credit deadline is December 31. Those eligible for the credit can get up to $1,200 depending on their annual income and the number of qualifying children.
When is the Working Families Tax Credit deadline?
In February this year, the Washington State Department of Revenue (DOR) launched the Working Families Tax Credit (WFTC) to provide assistance to eligible low-to-moderate-income Washington families.
Washington’s Working Families Tax Credit is based on the federal Earned Income Tax Credit (EITC) program and returns a portion of the sales tax that residents pay each year. The program aims to boost the local economy, offer support to targeted segments, as well as promote racial equity.
Washington’s State Department of Revenue started accepting applications for the WFTC in February. Those who haven’t yet applied for the WFTC can still apply, as the Working Families Tax Credit deadline is December 31. This new recurring tax credit gives eligible individuals and families $50 to $1,200 depending on their income and number of dependents.
The maximum credit amount that an applicant can get ranges from $300 to $1,200, while the minimum credit amount is $50. This credit is even available to undocumented immigrants and mixed-status families, as well as those who use an Individual Taxpayer Identification Number (ITIN) to file their taxes.
Who qualifies for WFTC?
Individuals and families need to meet the following requirements to qualify for the WFTC:
- Must have a valid Social Security Number or ITIN.
- Must have lived in Washington for at least 183 days.
- Applicants must have filed a 2022 federal tax return.
- They must be between 25 and 64 years old or have a qualifying child in 2022.
- Also, the applicants must be eligible to claim the federal Earned Income Tax Credit on their 2022 tax return or meet the requirements for the EITC if they have an ITIN.
Apart from the above requirements, applicants must also meet the income requirements. For example, an individual with no qualifying children must make less than $16,480 (less than $22,610 for a married couple filing jointly) to get the maximum credit amount (with no qualifying children) of $300.
Similarly, to receive the maximum amount of $1,200, a single person with three or more children must have income less than $53,057 (less than $59,187 for a married couple filing jointly). It must be noted that the income requirements for the WFTC are based on the 2022 EITC. Thus, the income eligibility thresholds could change in future tax years.
Those who believe they meet the requirements can apply either online or in hard copy before the Working Families Tax Credit deadline. For any questions regarding the WFTC or assistance in completing the application, you can contact the Department of Revenue’s Working Families Tax Credit Helpline at 360-763-7300 (Monday through Friday from 08:00 to 17:00 at 360-763-7300) or visit the program’s website.
