New Colorado Tax Credit Will Help Low-Income Families

Feb 8, 2016

Credit www.seniorliving.org / Flickr Creative Commons

Thousands of Colorado families could soon be eligible for more than $70 million in refunds, reports KDVR. The new tax rebates are a result of the return of the Colorado Earned Income Tax Credit. This tax credit hasn’t been available since 1999. But lawmakers recently voted to bring it back.

Almost 400,000 families could qualify for the tax credit, according to the Colorado Department of Revenue. The refund is aimed at helping low-income families. Many struggling Coloradans rely on their tax refunds to make ends meet. And this new credit will make things even easier.

Still, there’s a good chance many who qualify for the EITC won’t know about it. One organization, the Piton Foundation, provides tax advice to low income families. At Piton, individuals and families making under $53,000 a year can have their taxes done for free.

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