Earned Income Tax Credit Notices
Purpose
The University of Colorado is legally obligated to provide Earned Income Tax Credit (EITC) notices to employees, including employees from whose wages no income tax was withheld.
The EITC helps low- to moderate-income workers and families get a tax break. If qualified, employees can use the credit to reduce the taxes they owe – and potentially increase their refund. Information about the EITC can also be found on the back of the Form W-2.
EITCs are available both federally and for employees working in certain states and cities.
Federal
You may qualify for federal earned income tax credits pursuant to section 32 of the internal revenue code and/or federal child tax credits allowed pursuant to section 24 of the internal revenue code. For more information, visit:
- Earned Income Tax Credit Overview
- IRS Notice 797 on Possible Federal Tax Refund Due to the Earned Income Credit (EIC)
- Does My Child/Dependent Qualify for the Child Tax Credit or the Credit for Other Dependents?
States & Cities
Some states require additional notice regarding the EITC and may offer an earned income tax credit in addition to the federal earned income tax credit.
California
Based on your annual earnings, you may be eligible for the following assistance:
Voluntary Income Tax Assistance (VITA) Program — VITA is a free basic income tax return preparation program, for federal and state personal income tax returns, managed by the Internal Revenue Service and operated by Internal Revenue Service partners and trained volunteers.
Federal Earned Income Tax Credit (federal EITC) — The federal EITC is a refundable credit for low- to moderate-income working individuals and families. The federal EITC will not impact certain public assistance benefits. In addition, federal EITC payments are typically NOT used to determine eligibility for the following:
(A) Medicaid.
(B) Supplemental Security Income.
(C) Supplemental Nutrition Assistance Program.
(D) Low-income housing.
(E) Temporary Assistance for Needy Families payments.
To receive the federal EITC, you must file a federal tax return and fill out the EITC form, which can be found in the Federal Income Tax Return Booklet. For additional information on your eligibility to receive the federal EITC and other federal antipoverty tax credits, visit www.irs.gov.
California Earned Income Tax Credit (California EITC) and Young Child Tax Credit (YCTC) — The California EITC and YCTC are refundable credits for low-income working individuals and families. The California EITC and YCTC are similar to the federal EITC and will not impact certain public assistance benefits.
Foster Youth Tax Credit (FYTC) — The FYTC is a refundable credit for former and current foster youth between 18 and 25 years of age who were in foster care while 13 years of age or older. The FYTC will not impact certain public assistance benefits.
To claim the California EITC, you must file a California Income Tax Return and fill out the California EITC form (Form FTB 3514) and attach it to your tax return. For additional information on the availability of the credit, including eligibility requirements, or form questions, visit www.ftb.ca.gov and enter “CalEITC” in the search box.
You may also be eligible to have both your federal and state tax returns prepared and filed for free using VITA services. For additional information on the free tax filing service, and location and hours of operation, visit www.ftb.ca.gov and enter “VITA” in the search box.
Additionally, you may be eligible to e-file your California return directly with the Franchise Tax Board for free using CalFile. For additional information on CalFile, visit www.ftb.ca.gov and enter “CalFile” in the search box.
Colorado
You may qualify for state earned income tax credits allowed pursuant to C.R.S. Section 39-22-123.5 and/or the state child tax credit allowed pursuant to C.R.S. Section 39-22-129.
For more information, visit:
Illinois
Information for Illinois EITCs is provided on Form W-2. See example.
Louisiana
Maryland
Maine
New Jersey
Oregon
Philadelphia
Texas
Information for Texas EITCs is provided on Form W-2. See example.
Virginia
EITC information can also be found on the employee portal:
- Log into the employee portal.
- Open the CU Resources Home dropdown menu and select My Info and Pay.
- Choose the Earned Income Tax Credit tile and select your state.
If your state does not have a notice in the portal, please contact your state’s tax department.