California’s Tax Credit Helps Working Families
If you are working and pay taxes, you may be eligible for a California Earned Income Tax Credit that can give you a refund — or reduce your family’s taxes — by thousands of dollars. And if you have young children, you can receive up to an additional $1,000!
The California Earned Income Tax Credit (CalEITC) can put thousands of dollars back in your pocket. You may qualify for this tax credit if you or your spouse is:
•A worker with an income of $30,000 or less
•A worker who files taxes with an Individual Tax Identification Number (ITIN) or a Social Security Number (SSN). Either is fine.
•Self-employed (Form 1099) and/or a cash earner.
Workers with children under age six may also qualify for the Young Child Tax Credit — and receive up to $1,000 more in credits or refunds.
Even better, the CalEITC and Young Child Tax Credits are in addition to federal earned income tax credits. The average combined credit a family receives is $3,000, but some families will receive up to $8,053.
The IRS has extended the deadline to file your taxes to May 17th, 2021. It’s your money; get it!