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. See the IRS Child Tax Credit webpage for more information.
Yes. The Colorado Child Tax Credit is a new credit related to the federal credit. It is available for Colorado residents to claim on their 2022 Colorado income tax return when they file beginning in January 2023. The Colorado Child Tax Credit is refundable, which means you can receive the credit as a refund even if you owe no state income tax. See the Colorado Child Tax Credit webpage for more information.
You can claim the Federal Child Tax Credit by entering your qualifying children and other dependents on Form 1040, U.S. Individual Income Tax Return, and attaching a completed Schedule 8812, Credits for Qualifying Children and Other Dependents.
The Colorado Child Tax Credit is available to Colorado residents with incomes of $75,000 or less ($85,000 for married taxpayers filing jointly).
You must have children under age six as of December 31, 2022 who either:
- Qualify for the Federal Child Tax Credit, or
- Would qualify for the Federal Child Tax Credit if they had a social security number that was valid for employment.
See form DR 0104CN for detailed information about qualifying for and calculating the Colorado Child Tax Credit. You must file this form to claim the credit.
If you have at least one qualifying child or other dependent, you may claim the Federal Child Tax Credit, regardless of your immigration status. Note that you, and your spouse if filing jointly, must have an SSN or ITIN issued before the due date of your return to claim the credit.
For more information about qualifying for the Federal Child Tax Credit, see Federal Schedule 8812 or use the IRS Interactive Tax Assistant.