Minnesota Working 2022-2025 Form
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Video instructions and help with filling out and completing Working Family CreditMinnesota Department Of RevenueWorking Family CreditMinnesota Department Of RevenueMinnesota Form M1WFC Working Family Credit 2020Minnesota Form M1WFC Working Family Credit
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How much is the earned income credit in MN?
Eligibility No Children3 or More Qualifying Children Single AGI limit: $18,591 Max credit: $632 AGI limit: $59,899 Max credit: $7,830 Married (filing jointly) AGI limit: $25,511 Max credit: $632 AGI limit: $66,819 Max credit: $7,830 * Figures are for tax year 2024 (filing by April 2025).
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What is the Minnesota working family credit?
The Minnesota working family credit (WFC) and federal earned income tax credit (EITC) equal a percentage of the earnings of low-income individuals. The credits are refundable; if the credit exceeds a filer's tax liability, the rest is paid as a refund.
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What is the new tax child credit for 2024?
For 2024, the child tax credit is worth up to $2,000 per qualifying dependent child. The refundable portion, also known as the additional child tax credit, is worth up to $1,700.
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What is the Minnesota Child Tax Credit for 2024?
In TY 2024, taxpayers are eligible for a child credit of $1,750 per qualifying child ages 0 to 17.
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