Additional Tax Credits

In addition to the Earned Income Tax Credit, the following are other federal and state tax credits that benefit working families. 

The Child Tax Credit

A federal tax credit worth up to $1,000 for each child under the age of 17 claimed on a tax return. Learn more.

The Child and Dependent Care Tax Credit

This federal credit helps families pay for childcare while they are working or looking for employment. It is also available to families that must pay for the care of a spouse or adult depending who is incapable of caring for themselves. Learn more.

American Opportunity Tax Credit

This credit helps students and families pay for expenses incurred during the first four years of post-secondary education. It is worth $2,500 per eligible student each year. Learn more.

Lifetime Learning Credit

This credit helps students pay for expenses like tuition, books and supplies during all years of post-high school education. It is worth up to $2,000 per eligible student each year. Learn more.

Saver’s Tax Credit

This credit, which is referred to as the "Credit for Qualified Retirement Savings Contributions," rewards workers who make contributions to a retirement plan or Individual Retirement Plan (IRA), and it can be worth from 10 to 50 percent of a maximum $2,000 contribution. Learn more

PTC Rebate

Colorado provides a Property/Rent/Heat Credit for low-income seniors and disabled individuals. Learn more.

Colorado State Income Tax Credit for Child Care Expenses

Colorado families that earn less than $60,000 are eligible for the Colorado Child Care Credit, which is worth a percentage of the federal Child and Dependent Care Tax Credit. Learn more.

If you earn less than $54,000 a year and have children, you can also qualify for free tax help.