Healthcare Worker Retention Act

The Healthcare Worker Retention Act creates a refundable tax credit of $1,000 annually ($2,000 for joint returns) for eligible healthcare workers. It directly affects employees or contractors working at least 20 hours weekly (averaged over the year) and 3 months in each half of the year at qualifying settings like hospitals, nursing homes, or community health centers, with income under $100,000 ($200,000 for joint returns). The bill establishes semiannual advance payments - half the annual credit paid twice yearly - to provide immediate financial support, with the IRS estimating payments based on expected eligibility. This program applies only to taxable years beginning in 2023 and 2024, ending after December 31, 2024.