Tax credits can put money in your pocket

Did you know that many families are eligible for valuable tax credits every year? Whether or not you owe any income tax, you could get thousands of dollars in tax benefits.

To get these credits, you must file a tax return. When you file your taxes, make sure you ask about these credits:

The federal Child and Dependent Care Tax Credit for families that pay for child care when they go to work. This credit is worth up to $2,100.

• The federal Child Tax Credit (CTC) is for families raising children. This credit is worth up to $1,000 per child, and is refundable for families earning at least $3,000.

• The federal Earned Income Tax Credit (EITC) is designed to boost the wages of eligible families. This refundable credit is worth up to $5,891 and is available to married couples earning less than $50,270 or singles earning less than $45,060. The average refund to Shoreline residents in 2010 was $1,491.

Save even more by using one of the free tax sites.

(Only for households making less than $51,000 per year.)

Hopelink has non-English language staff as follows: 

• Vietnamese, all three days; 
• Chinese and Spanish on Saturdays.

What To Bring: photo ID, social security cards and birth dates for each person on the return, W-2’s or proof of income, any 1099 forms for income from interest, dividends, ($3,200 limit on investment income) retirement, social security or unemployment, last year’s return if you have it.

If filing jointly both filer and spouse must be present to file electronically. For child dependent care tax credit name address and tax payer identification number of child care provider. 

Other items: student loan payments and records of payments for educational expenses and bank account number for direct deposit.