The Department of Revenue is processing 2023 income tax returns. For more information, please read the Department's announcement.

 
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Earned Income Tax Credit (EITC)

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Special Session 2023

Nov. 17 - Nov. 20, 2023 a special session of the 74th General Assembly was held in Colorado, which temporarily changed the 2023 Earned Income Tax Credit (EITC).

SB23B-1002 (Increased Earned Income Tax Credit) Adjusts the State EITC credit for tax year 2023. For one year only (2023 - filed after Jan 1, 2024), State EITC credits claimed on income tax returns will increase to 50% of a taxpayer’s federal earned income tax credit. Previously, the State EITC was set at 25% of a taxpayer’s federal earned income tax credit. 

 

Earned Income Tax Credit (EITC) for SSN Filers

Colorado allows a refundable credit calculated as a percentage of the Federal Earned Income Tax Credit (EITC). For more information, including income limits, visit the Federal Earned Income Tax Credit web page.

Full-year and part-year Colorado residents who claimed the federal EITC can also claim the Colorado Earned Income Tax Credit (COEITC). Nonresidents of Colorado do not qualify for the COEITC.

If you could not claim the federal EITC, you may still be able to claim the COEITC. For more information, visit the COEITC web page

If you have qualifying children, you may also be eligible for the Child Tax Credit (CTC). For more information, including how to claim these credits, visit the CTC & EITC FAQ web page. 

 

Child Tax Credit (CTC) & Earned Income Tax Credit (EITC) Information

Federal Tax Credits

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Federal Earned Income Tax Credit (EITC)

​​​​​The Federal Earned Income Tax Credit (EITC) helps hard-working employees get a tax break. If you qualify, you can use the credit to reduce the taxes you owe and maybe increase your refund. This is a refundable credit for qualified taxpayers with income under $57,000 ($64,000 for joint filers). 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

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Colorado Earned Income Tax Credit (EITC)

​​​​​The Colorado Earned Income Tax Credit (EITC) helps hard-working employees in Colorado get a tax break. If you qualify, you can use the credit to reduce the taxes you owe, and you might increase your refund. Use the Colorado EITC Assistant to help if you qualify for one of the EITC options available to Coloradans.

Colorado Child Tax Credit (CTC)

The Colorado Child Tax Credit helps Colorado families with children under age 6 and income up to $75,000 ($85,000 for joint filers). If you qualify for the Federal Child Tax Credit, you may also qualify for the state credit. In addition, the state credit is allowed for children who do not have a social security number. You can receive the credit as a refund even if you owe no state income tax.

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See the CTC & EITC FAQ web page for more information on how to claim these valuable credits.