American families struggling to keep up with their house bills can get some relief from a new state tax credit program that includes Child Tax Credit 2024.
To claim the Child Tax Credit 2024 in Oregon, taxpayers have to file a return!
The Child Tax Credit 2024 was created by the Oregon legislature last year to provide low-income families with a helpful Child Tax Credit 2024 payment. The refundable Child Tax Credit 2024 applies to residents in Oregon with young dependent children.
This Child Tax Credit 2024 program is similar to the federal earned income tax credit or EITC. Those who receive both payments can boost their tax refund to more than $13,000. As the cost of living continues to soar, Oregon residents who meet the criteria to receive Child Tax Credit 2024 can add the funds to their savings or use it for childcare.
According to Oregon.com, the qualified candidate must reside in Oregon, have dependent children, and be under a certain income threshold. The Child Tax Credit 2024 money allotted to eligible Oregon residents depends on their income and the amount of children they have.
Be sure to get this done to claim the Child Tax Credit 2024 before the deadline on April 15
Those with a modified adjusted gross income or MAGI of $25,000 or less can get $1,000 per child for up to five dependent children under age six at the end of the tax year. That means the maximum amount of available benefits is $5,000 Child Tax Credit 2024.
Partial Child Tax Credit 2024 is also available for families or individuals with a MAGI of $30,000 or less. Families can apply to potentially get $7,430 back on their federal tax return or $891 on their Oregon state tax return.
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