Healthcare Worker Tax Credit with Advance Payments
This act introduces a new tax credit of $1,000 ($2,000 for joint filers) for healthcare workers. The money will be paid out twice a year in advance, aiming to help retain medical staff. This credit applies to tax years beginning before December 31, 2024.
Key points
Healthcare workers can receive a $1,000 annual tax credit, or $2,000 for married couples.
Payments will be made in advance, twice a year, providing quick financial support.
Eligible individuals must work at least 20 hours per week for three months in each half of the year, with an income up to $100,000 ($200,000 for joint filers).
This includes workers in hospitals, nursing homes, primary care facilities, hospices, and other licensed medical settings.
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