Are you receiving all of your money?

You may be eligible for several tax credits, more money in your pocket, on your return depending upon your situation. There are four main credits we work with at VITA. They are:

Tax Credits
Child Tax Credit
  • U.S. citizen, U.S. National, or Resident Alien
  • Child must be your dependent under the age of 17
  • Child did not provide over half of your support
  • Child lived with you more than 6 months
  • Child has a valid SSN prior to the date of the return
  • Non-refundable credit up to $2,000 per child for those with federal tax liability

Additional Child Tax Credit (ACTC)

  • A refundable credit, limited to $1,500 per child
  • Must have $2,500+ of taxable earned income if you have more than one child
  • May qualify for ACTC regardless of income with three or more children
Credit for Other Dependent
  • Child without a SSN who does not qualify for the child tax credit
  • Child who is 17+ or a qualifying adult dependent
  • U.S. citizen, U.S. National, or Resident Alien
  • Qualifying relatives with SSN, ITIN, or ATIN prior to return date
  • Non-refundable credit of $500 for other dependents
Earned Income Credit
  • Worked & earned income under $59,187
  • Investment income below $10,300 in tax year 2022
  • Valid SSN by the due date of your return (includes extensions)
  • U.S. citizen or a resident alien all year
  • Did not file Form 2555 (related to foreign earned income)
  • Refundable credit and must have earned income to qualify

Maximum Credit Amounts

  • No qualifying children: $560
  • One qualifying child: $3,733, two children: $6,164, three+ children: $6,935
Child & Dependent Care Credit
  • A dependent child under age 13 when expenses were incurred
  • Any person incapable of “self-care” claimed as a dependent, or who would have been, except for a gross income of $4,400+
  • A spouse not physically or mentally capable of “self-care”
  • Must have statement with name of provider, address, federal ID number, or valid SSN & phone number
  • Non-refundable credit: one child max amount excluded up to $3,000, two or more dependents, max amount excluded is $6,000
  • Expenses allow taxpayer to look for work, work, or attend college
  • Expenses include services for the dependent’s well-being & protection
  • Tuition is not an expense of care. Day-camps qualify, but overnight camps do not
Education Credit
  • Attend an approved post-secondary education institution
  • Working toward a degree or certification
  • Qualifying tuition and fees
  • Form 1098-T

American Opportunity Credit: Up to $2,500 credit with maximum $1,500 non-refundable payment/maximum $1,000 payment

Life-Time Learning Credit: Up to $2,000 credit per return with non-refundable credit limited to the total of tax paid on taxable income

Retirement Savings Contribution Credit
  • Contribution or deferral to an IRA or other qualified plan in 2022
  • AGI ≤ $34k Single, ≤ $51k Head of Household, ≤ $68k Filing Jointly
  • Born prior to January 2, 2005
  • Not a dependent on someone else’s return or full-time student
  • Non-refundable credit
  • Calculated based on income and retirement contributions
Residential Engery Credits

Part I – Residential Clean Energy Act

  • Qualified residential alternative energy equipment

Part II – Energy Efficient Home Improvement Credit

  • Qualified energy efficiency home improvements
  • Energy efficient heating and cooling systems
  • Made to main home & meets version 6.0 Energy Star program

Part I: Out of Scope – see a paid professional tax preparer

Part II: In Scope

  • A combined credit of $500 ($200 for windows) per year for all tax years
  • after 2005
  • 50 for any advanced main air circulating fan
  • $150 for any natural gas, propane, or oil furnace, or hot water boiler
  • $300 for any item of energy-efficient building property
Credits for New Clean Vehicles
  • Bought a plug-in electric vehicle or fuel cell vehicle in 2023 or after
  • Bought for your own use primarily in the U.S., not for resale
  • May qualify for up to $7,500 for a new electric vehicle purchased in 2022 or earlier
  • This is a non-fundable credit; you cannot get back more than what you owe in taxes
Nebraska Property Tax Credit
  • Must own real estate in NE, e.g., your home, farmland
  • Must have paid real estate taxes in the year of your tax return
  • Must file a NE tax return, a NE Property Tax Credit, and Form PTC

Refundable credit

  • Receive 30% of school district property tax paid
  • Receive 30% of community college property tax paid

For more information regarding these tax credits, visit the IRS website.

Download our Tax Credits brochure