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Cash Assistance and Tax Credits
Many families and individuals in and around Wisconsin are unaware of many services that they may give them help to “get back on their feet”. The Wisconsin.Gov web page has many of these kind of services listed as well as who to contact and where to go for help.
Unemployment Insurance
Unemployment Insurance (UI) provides temporary cash assistance to qualified unemployed workers looking for a job. Benefits are based on past earnings, not on current income.
Some of the criteria for eligibility are:
- are unemployed through no fault of your own
- have earned enough wages to qualify for benefits
- are available and actively looking for full-time work.
These are not exclusive eligibility criteria, they are just some common qualifications. For more information and to see if you qualify go to the Wisconsin.Gov site.
Wisconsin Works (W-2)
W-2 is a program for limited income families that provides financial help and employment and training services. Participants receive monthly cash payments for working in eligible job positions.
Some examples of W-2 programs are:
- Emergency Assistance (EA)
- Job Access Loans (JAL)
- Refugee Cash Assistance (RCA) and Refugee Medical Assistance (RMA) programs
- Child Care
- Transportation
Most of the timke when you qualify for W-2 assistance you will also qualify for many other state funded programs. For more information go to the Wisconsin.Gov web site.
Earned Income Tax Credit
The Earned Income Tax Credit (EITC) can lower taxes and provide cash back to low and moderate income workers. There are two related programs – the federal EITC and the Wisconsin Earned Income Credit (EIC). Both programs aim to reduce tax burden and supplement wages.
The Wisconsin.Gov web site has a lot of information as to how to file for this credit as well as amending previous returns if the credit was not claimed. this is a very useful tool as it can get tax payers a substantial amount of money.
Homestead Credit
The Homestead Credit is a Wisconsin tax benefit for low and moderate income renters and homeowners. It can lower your state income taxes, and may provide cash back if your income is too low to pay taxes.
The Wisconsin.Gov web site has very valuable information in regards to the homestead credit. You can still file this credit even if your landlord did not give you a rent certificate but you must provide a copy of all checks or money orders that you used to pay your rent for the year. Go to the web site for more information and forms.