Tax season is here, and many Colorado families could get thousands of dollars back on their taxes—but only if they claim the credits they qualify for!
The new Colorado Family Affordability Tax Credit could mean up to $3,200 per child for families with young kids. Plus, other tax credits like the Earned Income Tax Credit and Child Tax Credit can add even more money back into your pocket.
The Get Ahead Colorado and Hacia Adelante Colorado campaigns, run by the Colorado Department of Public Health and Environment, make it easy to claim these benefits. Families can access free tax filing help and a new tax credit calculator that instantly estimates how much they could get.
“We want every family to know about these credits and how easy it is to claim them,” said Isabel Dickson, Economic Mobility Program Manager at CDPHE. “Even if you don’t normally file taxes, you could still get money back—just by filing. Tax credits have been proven to reduce child poverty while improving health and educational outcomes. When Coloradans have the financial resources to meet their basic needs, individuals, parents, and children can thrive.”
How families can get free tax help:
- File online for free.
- Get virtual help from IRS-certified tax experts.
- Visit an in-person tax assistance site near you.
This year, Get Ahead Colorado, in partnership with Gary Community Ventures and MyFriendBen, has introduced a tax credit calculator that estimates the federal and state tax credits families may be eligible to receive. “With just a few clicks, eligible families can uncover significant financial support that could make a real difference in their lives,” Dickson said.
Key Tax Credits for 2024
- New Colorado Family Affordability Tax Credit: Up to $3,200 per child aged five or younger and $2,400 per child aged 6 to 16.
- Federal and State Earned Income Tax Credit: Up to $7,830 depending on the number of children and income, with a 38 percent state match.
- Federal and State Child Tax Credit: Up to $2,000 per child under 17 for the federal credit and up to $1,200 for the state Child Tax Credit.
Visit GetAheadColorado.org or HaciaAdelanteColorado.org to explore these resources and claim your tax credits today.
