Residents of Washington state can partake in a new tax credit that will award them up to $1,200 if they apply for it.
The tax credit, called the Working Families Tax Credit, is a new annual tax credit for low/moderate income residents of the Evergreen State. Undocumented people and mixed-status families are also allowed to apply.
TAX SEASON 2023: HERE ARE SOME TAX CREDITS YOU CAN USE TO GET THE MOST OUT OF YOUR REFUND
The amount one can receive from this credit will vary depending on an applicant's income and the number of children they have, according to the Working Families Tax Credit Coalition.
To be eligible for this credit, an applicant must have earned at least $1 in income for the tax year they are applying for, be a resident of Washington for at least six months, and either be between the ages of 25 and 65 or have at least one qualifying child. Residents without children can still apply and be eligible, though they must be within the age range.
Washington residents interested in applying can do so through a variety of options, including applying when doing their taxes for free at a Volunteer Income Tax Assistance site or when applying through a third-party tax preparation service. If a taxpayer has already filed their taxes, they can still apply for this credit either online or by filling out a paper application available at the Department of Revenue Working Families Tax Credit website.
The income limits for this credit will be the same as the income limits set for the federal Earned Income Tax Credit. A single filer with no children must make no more than $16,480 to receive a maximum credit of $300, and married couples with no children filing jointly can make no more than $22,610. To get the maximum credit of $1,200, a single filer with three or more children must make no more than $53,057, and married couples with three or more children filing jointly must make no more than $59,187.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Due to this being the first year of the program, it is not yet known how long processing times will be. However, the Washington Department of Revenue has a “Where’s my Refund” tool available to use on its website.
Further information regarding this credit is available on Washington's Department of Revenue website.