/cloudfront-eu-central-1.images.arcpublishing.com/diarioas/VKZHM6JZ5XSGRPBZ4VVJH2WWAY.jpg?fit=%2C&ssl=1 "States Launch Their Own Plans to Expand Child Tax Credit: Minnesota Offers Up to ,750 for Eligible Families")
Since the increase in the Child Tax Credit (CTC) of the ‘American Rescue Plan‘ It ended, different states of the American Union have launched their own plans with the objective of help families who need it most.
Such is the case of state of Minnesotawhere a new Child Tax Credit of up to $1,750 for fiscal year 2024, but who is eligible? Then all the details.
CTC up to $1,750 dollars: Requirements and who qualifies
This new financial support, which is fully reimbursable, is named ‘Credit for Minnesota Children and Working Families’ and it is intended for people whose income is below a certain level.
According to Minnesota Department of Revenue, The requirements to qualify are the following:
- Have been a resident of Minnesota for a full or partial year in 2023
- Have income less than $29,500 dollars if you are a single taxpayer or $35,000 If you are a couple filing your taxes together
- The dependent must be under 18 years old
- Should not be declared dependent in other people’s statements
The maximum to receive is $1,750 dollars per childregardless of the number of dependents.
You may also like: Reasons why Social Security benefits may be lost
How to request the credit of up to $1,750?
For tax years 2022 and earlier, you can claim the CTC through schedule M1WFC, Working Family Credit. For fiscal year 2023 and beyond, The Credit is claimed through Schedule Schedule M1CWFC, Credits for Minnesota Children and Working Families.
It is worth mentioning that The forms will be available until tax year 2023, that is, at tax time in 2024. “This program will be available before the 2024 tax filing season,” says the State Department of Revenue.
2023-10-22 18:30:56
#Child #tax #credit #qualifies #apply
