Tax Deadline Extended! Parents are increasing their refunds with these 4 child tax credits

The deadline to file your taxes has been extended to  Monday, May 17, 2021!

Free File Income Tax Resources

Free tax filing assistance is available through the IRS’s Volunteer Income Tax Assistance (VITA) Program for people who qualify.  Check out these free tax prep resources and see if you qualify here.

4 Tax Credits for Parents

1. Child Tax Credit

Updates to the current Child Tax Credit (CTC) allow families to receive a $3,000 annual benefit per child, ages 6 to 17, and $3,600 per child under 6.  The payments are temporary and expected to start in July through December 2021.  In the past, families with low income did not receive the full benefits.  Now, you don’t have to be employed to receive CTC.  Additional information about the Child Tax Credit, visit IRS.gov.  Click here to see if your child qualifies for the Child Tax Credit.

2. Federal Earned Income Tax Credit

The Earned Income Tax Credit (EITC) is a federal tax credit for working people who have earned a low-to-moderate income and must have a Social Security number.  If you qualify, you may see a reduced tax bill or a bigger refund.  Click here to see if you qualify.

3. California Earned Income Tax Credit

If you made $30,000 or less last year, you may qualify for the California Earned Income Tax Credit (CalEITC).  This credit could help reduce your tax bill or increase your refund, and Social Security number is not needed.  If you are eligible for CalEITC and have a child under the age of 6, you may also qualify for the Young Child Tax Credit.

4. Young Child Tax Credit

If you qualify for CalEITC and have a child under the age of 6 as of the end of the tax year, you may also qualify for the Young Child Tax Credit (YCTC) and receive up to $1,000 through this credit.

Note: Individual Taxpayer Identification Number (ITIN) holders only qualify for the CalEITC and the state YCTC, not the federal EITC.