You could save thousands of dollars this 2024 tax season
Editor’s note: Kathryn Menefee serves as Counsel, Income Security for the National Women’s Law Center. This article is cross-posted with permission.
By Kathryn Menefee
Tax season has arrived! Between now and April 15, you should plan to file your Tax Year 2023 taxes. Follow our steps below to make sure you don’t miss out on any tax benefits for you and your family.
Claim Your Federal Family Tax Credits
- Do you have children? You may be eligible for the Child Tax Credit (CTC), which provides families up to $2,000 for each child under the age of 17. You may have also heard about a CTC bill moving through Congress right now that could benefit millions of women and families. If this bill passes, we will update with new materials.
- Do you have earned income from 2023? You may be eligible for the Earned Income Tax Credit (EITC), which provides up to $7,430 for workers raising children at home and $600 for workers who do not have children or aren’t currently raising children at home. The size of your credit will depend on your income, your marriage status, and the size of your family.
- Do you pay for child care so you can work or look for work? You may be eligible for the Child and Dependent Care Tax Credit (CDCTC), which provides up to $2,100 to help cover out-of-pocket child and dependent care expenses from 2023. This includes expenses for child care, babysitters, and summer camps.
Don’t Forget State Tax Benefits
In addition to the federal tax credits, your family may be eligible for tax benefits through your state. These benefits often mirror the federal tax credits, so if you are eligible for the federal CTC, EITC, or CDCTC, you should check to see if you may be eligible for your state’s version as well.
- 14 states have state CTCs. Find out if your state has a CTC here.
- 30 states (including the District of Columbia) have state EITCs. Find out if your state has an EITC here.
- 28 states (including the District of Columbia) have state CDCTCs or other child and dependent care tax provisions. Find out if your state provides a state version of the CDCTC here..
Get Help Filing Your Taxes
Filing taxes can be difficult and expensive, but there are several free resources available for many families.
- Do you live in Arizona, California, Florida, Massachusetts, New Hampshire, New York, Nevada, South Dakota, Tennessee, Texas, Washington, or Wyoming? Then you may be eligible for a brand–new Direct File pilot, which allows families to file directly with the IRS, quickly, easily, and for free!
- Direct File is currently available to eligible families and officially launched on March 12. Check your eligibility here.
There is also tax assistance available to families in all states.
- GetYourRefund.org can connect you with an IRS-certified volunteer who can help you file your taxes for free. (Spanish version available here.)
- Free tax assistance may be available through VITA and Tax Counsel for the Elderly.
- You can also get access to free tax filing software at MyFreeTaxes.com.