If you qualify, you can use these credits to reduce the taxes you owe, and you might increase your refund.
Federal Tax Credits
Federal Earned Income Tax Credit (EITC)
The Federal Earned Income Tax Credit (EITC) helps hard-working employees get a tax break. This is a refundable credit for qualified taxpayers with income at or under the threshold determined by the IRS. Use the IRS EITC Assistant to help see if you qualify.
Federal Child Tax Credit (CTC)
The Federal Child Tax Credit helps families with qualifying children get a tax break. You may be able to claim the credit even if you aren't normally required to file a tax return. Use the IRS Child Tax Credit Assistant to see if your children qualify.
State Tax Credits
Colorado Earned Income Tax Credit (EITC)
The Colorado Earned Income Tax Credit (EITC) helps hard-working employees in Colorado get a tax break. You may be eligible even if you could not claim the Federal EITC. Use the Colorado EITC Assistant to help if you qualify.
Colorado Child Tax Credit (CTC)
The Colorado Child Tax Credit helps Colorado families with children under age 6 and income at or under the annual threshold. You can receive the credit as a refund even if you owe no state income tax. Use the Colorado Child Tax Credit & Family Affordability Tax Credit Assistant to see if you qualify.
Colorado Family Affordability Tax Credit
The Colorado Family Affordability Tax Credit is a new credit created by House Bill 24-1311 for Colorado families with children under age 17. This credit may not be available for some years based on the state’s economic conditions. Use the Colorado Child Tax Credit & Family Affordability Tax Credit Assistant to see if you qualify
See the CTC & EITC FAQ web page for more information about these valuable credits.