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Tax Credits for Working Families

Submitted by on February 4, 2014 – 12:53 pmNo Comment

Tax Credits for 2013 Tax Returns

Working Families Could Be Eligible for Thousands in Tax Credits

Center Provides Resources so Eligible Families Claim Valuable Federal and State Tax Credits

The National Women’s Law Center (NWLC) is launching its annual tax credits outreach campaign.  As part of the campaign, NWLC is teaming up with organizations around the country to make sure that eligible low- and moderate-income families claim available federal and state income tax credits.

Federal and state tax credits can help struggling families make ends meet. “For families who are living paycheck to paycheck, these tax credits can provide some welcome relief,” said Nancy Duff Campbell, NWLC Co-President. “The credits can increase families’ tax refunds, helping them catch up on their bills or make a needed purchase that was otherwise out of reach.”

For 2013 tax returns, families may be eligible for a number of federal tax credits, including:

  • Earned Income Tax Credit, which helps supplement the wages of low- and moderate-income families (those earning less than $51,567 annually). This credit is worth up to $6,044 and is refundable.
  • Child Tax Credit, which helps families offset some of the costs of raising children. This credit is worth up to $1,000 per child. Families who owe little or no income tax can receive some or all of this credit as a refund if they earned at least $3,000 in 2013.
  • Child and Dependent Care Tax Credit, which helps families offset some of the child and dependent care expenses they incur in order to work. This credit is worth up to $2,100, though the amount that may be claimed is limited by a family’s federal income tax liability.

Some states also offer their own family tax provisions, many of which are refundable: 27 states, including the District of Columbia, offer child and dependent care tax provisions; 24 states, including the District of Columbia, offer earned income tax credits; and three states offer child tax credits.

“Families must file a tax return and claim these credits or they will miss out,” Campbell said. “The goal of the tax credits outreach campaign is to spread the word about these credits and let families know that they might also be eligible for free tax preparation assistance in their communities.”

NWLC has developed an online resource for parents and advocates with user-friendly fliers about both the federal credits and the parallel tax provisions of individual states. Materials are available in Spanish and other languages. To learn more about these federal and state tax provisions, visit www.nwlc.org/LowerYourTaxes.

The National Women’s Law Center is a non-profit organization that has been working since 1972 to advance and protect women’s equality and opportunity. The Center focuses on major policy areas of importance to women and their families including economic security, education, employment and health, with special attention given to the concerns of low-income women. For more information on the Center, visit: http://www.nwlc.org.

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