You could get an extra $1,200 on back your federal tax return. Here’s how
If you lived in Washington State for more than half of 2022 and file a federal tax return, you may qualify for a credit of up to $1,200.
The new Working Families Tax Credit is now available for those filing 2022 taxes. It’s administered through the state’s Department of Revenue with the goal of stimulating the economy, promoting racial equity and supporting financial stability for those with low to moderate income.
You can see if you qualify by answering a few questions online at the Department of Revenue’s website. Applications are open until Dec. 31, 2023.
Individuals and families are eligible for the tax credit if they meet all of the following requirements:
▪ Have a valid Social Security Number or Individual Taxpayer Identification Number.
▪ Lived in Washington for a minimum of 183 days in 2022.
▪ Is between the ages of 25 and 65 or had a qualifying child in 2022.
▪ Filed a 2022 federal tax return.
▪ Eligible to claim the federal Earned Income Tax Credit on their 2022 tax return or would meet the requirements for the credit but are filing with a taxpayer number.
The credit amount varies depending on the number of qualifying children and income level.
The maximum credit amount ranges from $300 to $1,200 depending on the number of qualifying children. These amounts are then reduced based on income thresholds, similar to the federal Earned Income Tax Credit program. The minimum credit amount is $50, regardless of the number of qualifying children.
Belllingham’s Opportunity Council is providing free assistance to taxpayers applying for the Working Families Tax Credit. You can visit the downtown Bellingham or East Whatcom Regional resource centers for help.
“So many people might not even know about the credit, or they’re overwhelmed by the amount of information they need to file their taxes,” said Lorena Shah, assistant director of community programs for Opportunity Council, in a news release.
The Whatcom Asset Building Coalition is also providing community outreach for free tax preparation and tax credit awareness. For more information, call the Whatcom Asset Building Coalition’s tax hotline at 360-746-0100 or email taxes@oppco.org.
The Washington State Department of Revenue began accepting applications for the tax credit on Feb. 1. Since then, about 150,000 households in Washington have applied and more than $60 million in funds have been disbursed, according to the Working Families Tax Credit Coalition.
This story was originally published April 15, 2023 at 5:00 AM.
