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Minnesota Proposed Child Tax Credit – Get Yours and Free Tax Assistance!

Minnesota Proposed Child Tax Credit to Bolster Family Finances

Minnesota Proposed Child Tax Credit to Bolster Family Finances. (PHOTO: Yahoo News)

Minnesota proposed a Child Tax Credit for 2023 to support families according to Fox 9. Governor Tim Walz and Lieutenant Governor Peggy Flanagan presented the initiative on Monday, noting its potential to help state residents’ finances. The program helps families especially low-income ones with a maximum credit of $1,750 per child and no restriction on the number of children claimed.

READ ALSO: First Wave Of Stimulus Checks Set To Roll Out On February 09, 2024 – What You Need To Know!

Expected to Alleviate Child Poverty and Provide Support to Hundreds of Thousands

Nearly 300,000 households and over half a million children may benefit from the credit reducing Minnesota child poverty by one-third. Child age, dependent status, and taxpayer income determine eligibility. The benefit expires for anybody earning over $29,500 or $35,000 for couples, although free tax preparation is available. Seniors, handicapped, non-English speakers, and low-income taxpayers can submit their taxes at over 170 venues statewide. Reaching 100% of eligible families was important to Lt. Gov. Flanagan. The tax credit fosters economic stability and family well-being, she added. Minnesota proposed a Child Tax Credit and ensure a brighter future for children and families by using free tax preparation aid and internet filing as tax season begins.

READ ALSO: Alaska Permanent Fund Dividend Update: Beneficiaries Set To Receive $1312 Payout

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