Discover how Oregon’s new tax credit is providing much-needed support for low-income families raising young children, with potential benefits of up to $1,000 per child. Learn more about eligibility and how to claim the Oregon Kids Credit.
Oregon Kids Credit Offers Financial Relief for Qualifying Families
In Oregon, the commencement of the tax season has brought a ray of hope for low-income families raising young children. With the introduction of the Oregon Kids Credit, these families now have the opportunity to receive financial support to help meet their essential needs. This new tax credit, established by the Oregon legislature, allows eligible families to claim up to $1,000 per qualifying child by filing a tax return.
The Oregon Kids Credit is specifically designed for families making no more than $30,000 a year and raising a child under six years old. Families can claim this tax credit for every child within the specified age range, for up to five children. The legislation received significant support, emphasizing the collective effort to improve the lives of Oregonians, ultimately benefitting thousands of children across the state, particularly those in rural communities.
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Tax returns must be filed by April 15 to get the Oregon Kids Credit. Low-income families may also qualify for federal and state tax benefits like the Earned Income Tax Credit and Working Family Household and Dependent Care Credit. Free tax preparation services ensure qualified families receive support.
The Oregon Kids Credit symbolizes a commitment to aiding the most vulnerable families in the state, ultimately contributing to the overall well-being and security of Oregon’s children. The implementation of this tax credit underscores the collective efforts to support families in need and enhance the lives of children in Oregon, both now and in the future.