If you're raising a family, there are valuable tax credits you may be able to claim, even if you aren't required to file a tax return. First, there's the Earned Income Tax Credit. If you work and are eligible for the credit, you can claim this valuable benefit for up to three qualifying children based on your filing status and your earned income. There's also the Child Tax Credit. For the year 2021, some older children may qualify for the Child Tax Credit, you may be eligible for this benefit even if you have no income. Finally, you may be able to claim the Child and Dependent Care Credit if you pay for childcare while you work, including some pre-schools and day camps. So, for example, if you have three children under the age of 6, for tax year 2021, you may be eligible for the Earned Income Tax Credit, the Child Tax Credit, and the Child and Dependent Care Credit, Giving you a possible tax benefit totaling more than $25,000.00. Volunteer Income Tax Assistance – also knowns as VITA programs – in your community can help you file a return to claim these credits. For more information, check out IRS.gov, and search for terms like EITC, Child Tax Credit, Child and Dependent Care Credit and VITA.
