Taxpayers can take advantage of state Working Family Credit
The Minnesota Department of Revenue is reminding taxpayers to take advantage of the Minnesota Working Family Credit when filing their 2008 income tax returns.
Under the credit, low to moderate income working families can get a refund from the state even if they have no tax liability.
Single persons and married couples without children may also qualify.
The amount received depends on the individual's earnings and the number of qualifying children.
Those who qualify for the federal Earned Income Tax Credit automatically qualify for the Minnesota Working Family Credit.
Nearly 12 percent of Minnesotans qualify for the state credit and almost 95 percent of those eligible take advantage of it.
The average combined credit for qualifying Minnesotans is $2,300.
"The Working Family Credit provides a financial boost for nearly 300,000 Minnesota taxpayers at a crucial time," said Ward Einess, Minnesota Revenue Commissioner.
Eligibility requirements for the federal Earned Income Tax Credit are available from the Internal Revenue Service at www.irs.gov.
For more information on the Minnesota Working Family Credit, visit the Minnesota Department of Revenue website at www.taxes.state.mn.us.
In order to claim the WFC, taxpayers must file the Minnesota individual income tax return (Form M1) and Schedule M1WFC, available at www.taxes.state.mn.us.