With W-2s showing up in mailboxes, it’s time to make sure you’re getting every break you deserve on your taxes. Here are some credits you should make sure you look into.

Earned Income Credit: This is one of the best tax breaks available for workers with low to moderate incomes. If you qualify, the credit can reduce the taxes you owe, entirely eliminate the taxes you owe, or increase the refund you receive. Last year, 24.6 million workers received this credit. It can be worth up to $5,657 for families with three or more children. See the table below for income eligibility ranges. For additional information on the Earned Income Credit, see the Bridge to Benefits website.

Minnesota Working Families Credit: This is the state version of the federal Earned Income Credit. If you qualify for the federal tax credit, you also qualify for the state credit. See the table below for income eligibility ranges. For additional information, see the Bridge to Benefits website.

Income amounts are based on adjusted gross income from wages or self-employment income. “Married” limits are for couples filing joint returns. You must file a tax return and fill out the required schedules to get the federal and state tax credits.
Sources: Internal Revenue Service, Minnesota Revenue

Child Tax Credit: Most working families who qualify for the Earned Income Credit also qualify for this credit. The Child Tax Credit is worth up to $1,000 per child. Again, you may be eligible even if you don’t owe income taxes. For more information, see the IRS website.

Minnesota K-12 Credits: The state has two credits that allow families to deduct qualifying expenses they’ve paid related to their children’s education. For complete information, see the Minnesota Department of Revenue website.

American Opportunity Tax Credit: This credit, worth up to $2,500, is available for undergraduate students in their first four years of college. You may be eligible if you paid for “qualified educational expenses” for yourself, your spouse or a dependent. To qualify, you must have an adjusted gross income of less than $80,000 for individuals, $160,000 for a joint return. For more information, see the IRS website.

Making Work Pay Credit: This new credit is worth up to $400 for individuals and up to $800 for couples filing jointly. At least partial credit is available to individuals with adjusted gross income of up to $95,000 and to couples with income up to $190,000 who file jointly. Taxpayers will have to fill out a new Schedule M to calculate the credit. For most workers, much of the credit will be offset by lower payroll withholding that took effect last year. For more information, see the IRS website.

Free tax assistance: Accountability Minnesota is offering free tax preparation in the Twin Cities and St. Cloud areas. The help is available for individuals who make less than $30,000 and families who make less than $50,000. For details, see the Accountability Minnesota website.