Washington’s Department of Revenue has now launched the Working Families Tax Credit on Wednesday. The credit would allow a refund of up to $1,200 to qualifying families in Washington. These stimulus checks or tax credits are designed in a way that will allow more than 400,000 low-income households within Washington to benefit from them. Eligibility depends on the family’s income level as well as the qualifying children living within their household.
For a single person, the maximum credit currently is going to be $300, and that number increases by an additional $300 for each qualifying child. The maximum amount is going to be $1,200 for families that have more than three children.
The Washington State Budget and Policy Center has acknowledged that the work for this tax credit to be implemented has taken over a decade, with advocates calling for this change.
Washington Governor Jay Inslee wrote that according to a study of low-income Washington residents, around 17 percent of their income is spent on taxes. For middle-class workers that percentage drops to 11 percent, while for those in the upper tax brackets, only 3 percent is on average spent on their taxes.
Inslee added that programs like the WFTC are very important as they help ensure that Washington’s tax system is not as “regressive.”
Those who want to participate in the refund program, will need to file their taxes with an Individual Taxpayer Identification Number (ITIN) and be eligible for the refund.