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Tax Credits
Child Care Contribution Tax Credit
With all the changes in the CCCTC, please read the latest PPUW fact sheet or visit the Colorado Department of Revenue website for the latest updates.
Earned Income Tax Credit
It’s tax time again, and as in the past, Pikes Peak United Way’s 2-1-1 information and referral hotline is the best source for information about valuable tax credits and free tax preparation.
If your income was less than $49,000 in 2010, you could be eligible for the Earned Income Tax Credit (EITC) - a special tax benefit from the federal government for working people with children, designed to help reduce your tax burden and supplement your wages.
If you’re eligible, the EITC could mean a refund of up to $5,000 or more! Plus, you may also qualify for a Child Tax Credit of up to $1,000 per child. And there are even more tax credits for college expenses and saving for retirement.
According to The Piton Foundation, more than 288,000 Colorado families received $500 million in tax refunds last year - $73 million went to Pikes Peak region residents, with an average refund of $1,700 per family. Yet over $9 million was left unclaimed locally.
In addition to the refund, you may qualify for free tax return preparation:
- Colorado has over 123 locations, 11 in Colorado Springs, where free tax preparation and e-filing is provided to taxpayers making less than $49,000.
- Or anyone with an adjusted gross income of up to $57,000 can prepare and electronically file their federal tax return through the IRS’ “Free File” Program.
To find out if you qualify for the EITC, free tax preparation, or other tax credits benefiting low to moderate wage earners, you’re encouraged to call the Pikes Peak United Way’s 2-1-1 Informational and Referral hotline. Free and confidential, the hotline provides trained, bilingual information specialists 24 hours a day, 7 days a week, to answer questions and assist with the process.