Frequently Asked Questions
To claim the Federal Earned Income Tax Credit, enter your qualifying children and other dependents on Form 1040, U.S. Individual Income Tax Return and Schedule EIC, Earned Income Credit. See the instructions for Form 1040 to calculate your earned income and your credit.
To claim the Federal Child Tax Credit, enter your qualifying children and other dependents on Form 1040, U.S. Individual Income Tax Return and attach a completed Schedule 8812, Credits for Qualifying Children and Other Dependents.
First complete your federal income tax return. Then complete your Colorado Individual Income Tax Return (DR 0104) using information from your federal return.
To claim the Colorado earned income tax credit (EITC), include with your Colorado return:
- Individual Income Tax Credit Schedule (DR 0104CR) with lines 3-6 or line 9 completed; and
- If applicable, the Colorado EITC Schedule for ITIN Filers or Certain Filers Under Age 25 (DR 0104TN).
To claim the Colorado child tax credit and family affordability tax credit, include with your Colorado return:
Tax Year | Colorado Earned Income Tax Credit (EITC) | Maximum Colorado Child Tax Credit Per Child Ages 0-5 | Maximum Family Affordability Tax Credit Per Child Ages 0-5 | Maximum Family Affordability Tax Credit Per Child Ages 6-16 |
|---|---|---|---|---|
2017-2021 | 10% of Federal EITC | N/A | N/A | N/A |
| 2022 | 20% of Federal EITC | $1,200 (percentage of Federal Child Tax Credit) | N/A | N/A |
| 2023 | 50% of Federal EITC | $1,200 (percentage of Federal Child Tax Credit) | N/A | N/A |
| 2024 | 50% of Federal EITC | $1,200 | $3,200 | $2,400 |
| 2025 | 50% of Federal EITC | $1,200 | $3,273 | $2,455 |
Your specific credit amounts are based on your number of qualifying children and your earned income or adjusted gross income for the tax year. To look up Federal EITC amounts, go to IRS Publication 596 for the tax year. To determine Colorado Child Tax Credit and Family Affordability Tax Credit amounts, go to form DR 0104CN for the tax year.
You can find more information on the following web pages:
The following are free and easy ways to file your tax return:
Other tax filing resources are available when you search online, but they may not be free. Many online tax filing services have hidden fees or require that you pay to e-file your return. To get help or ask questions, contact 2-1-1 by visiting www.211colorado.org, calling (866) 760-6489 toll-free, or texting your ZIP code to 898-211 to get help or ask questions. You may also view the Department’s list of accepted software.
Taxpayers with disabilities may qualify for special assistance completing their tax return, including assistance from an IRS office, a Colorado VITA site, or an AARP Tax Assistance site.
The IRS tax deadline is April 15 each year. The sooner you file your tax return, the sooner you’ll be able to get your refund. If you expect to receive a W-2, make sure to wait until you have those with you before you start your tax return. If you think you need more time to file your taxes, you can request an extension from the IRS with Form 4868. Colorado allows an automatic extension until October 15.
Even if you make little income and are not required to file a tax return, you likely qualify for tax credits. You are especially likely to qualify for tax credits if you have children. To claim this money, you need to file a tax return. Filing a tax return may also serve as useful documentation when applying for other benefits, like financial aid for college or a home loan.
To check if you are required to file a federal tax return or might get a federal tax refund, use the IRS “Do I Need to File a Tax Return?” Assistant.
If you had a job and taxes were withheld from your paychecks, filing your tax returns may give you tax refunds. On your federal return, make sure to mark if someone else's can claim you as a dependent.
If you are a full-time student are full-time between the ages of 19-24, you are likely a dependent (of a parent or guardian) — unless you can show that you pay for over half of your own living expenses, including housing, food, medical and dental care, and personal expenses.
If you are not someone else's dependent, you may be eligible for the refundable Earned Income Tax Credit (EITC) and Child Tax Credit (CTC). Even if you are under age 25 and do not have children, check if you are eligible for the Colorado EITC.
It is possible to file your tax return on paper and mail it to the IRS. However, it may take much longer to process your tax return, so it will take much longer to get your cash back. The IRS strongly recommends that tax filers file their tax return online whenever possible. Taxpayers with smartphones can use the mobile application "IRS2Go" to file their federal taxes and the Revenue Online website on their mobile browsers to file their Colorado state taxes.
Many Coloradans can access and use a computer for free at their local library. Use the directory of Colorado public libraries to find a library near you. We recommend contacting your local library for hours and details about their computers. Some libraries allow you to use their computers without an appointment, and others allow you to make a reservation.
Use the Colorado Virtual Library map to locate free Wi-Fi in your area.
You can learn more about the required documents and information that you should gather prior to filing your taxes on the IRS Getting Ready to File website. Remember, your tax situation may be different from last year. If this is not your first-time filing taxes, it may be helpful to have a copy of last year’s tax return. If you are married and filing jointly, plan to have your spouse present to sign your tax forms before you file.
Yes. You can generally file federal tax returns and claim tax refunds for up to three prior years. You generally have up to four years to claim state refunds by filing a Colorado tax return. These deadlines generally start on the original April 15 due date.
If you need an ITIN number and do not have one yet, you can visit the IRS website and learn how to apply for an ITIN. Be sure to apply as soon as possible so you have enough time to prepare your taxes after you receive your ITIN.
If you have an ITIN, or have used one in the past, you should check to see if your number needs to be renewed. If your ITIN has expired, you can renew it when you file your tax return. Learn more about renewing your ITIN on the IRS website about ITIN expiration.
The parent with custody for the greater part of the year is usually allowed to claim the child as a dependent.
No. Generally, the money you get back from the earned income tax credit and the child tax credit does not count as taxable income. This means that you do not need to pay any taxes on the amount of money you get back from tax credits.
If the IRS or the state finds that your tax refund was incorrectly calculated, you may be required you to repay the ineligible amount plus interest. There may also be penalties and other consequences, including if the IRS determines you were reckless or intentionally disregarded the rules for claiming these credits.
No. Filing a tax return or receiving tax credit money will not impact any other benefits you might receive, like SNAP, WIC, TANF, or housing assistance. In most cases, tax credits like the Earned Income Tax Credit or the Child Tax Credit do not count as income in determining benefits eligibility. Any refunds you save do not count against any federally funded public benefit program for 12 months after the refund is received.
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 go to the IRS Child Tax Credit web page or use the IRS Interactive Tax Assistant.