Do Not Miss out on the Child Tax Credit!
You may qualify for a Minnesota Child Tax Credit of up to $1,750 per child under age 18 with no limit on the number of children claimed.
Even if you do not owe tax or do not have earned income, you can receive the credit, but you must file a Minnesota Individual Income Tax Return.
The amount you qualify for depends on your household income and family size, and decreases if your income is over $31,950, or over $37,910 for Married Filing Jointly.
Learn more at: https://www.revenue.state.mn.us/child-tax-credit
Sign up for Advanced Child Tax Credit Payments
You can choose to receive part of your Child Tax Credit for the next year in three advance payments before you file your next income tax return.
If you choose the advance option, you would receive three payments throughout 2026 in August, October, and December. You would receive the remaining balance of the tax credit when you file taxes in 2027.
Whether you choose advance payments or get your tax credit all at once, you’ll receive the same total amount of money. Your decision depends on what fits best with YOUR financial situation and goals.
To choose advance payments of your MN Child Tax Credit, you must file an income tax return by April 15 and check the box to receive advance payments.
For more information, visit the Minnesota Department of Revenue or this explainer from Prepare + Prosper.
If you receive SNAP benefits, the three advance payments will count as income for SNAP. Receiving them may result in a decrease in SNAP benefits. If you do not get advance payments, your SNAP benefits will not be affected. You can learn more and use a SNAP Estimator Tool to estimate the impact the advance payments may have on your SNAP benefits at the Minnesota Department of Children, Youth and Families.
IRS Phasing Out Paper Checks – Get Direct Deposit
In 2026, the IRS is eliminating paper checks for tax refunds and will issue refunds electronically. If you typically receive paper checks, you will need to switch to direct deposit into a bank account, prepaid debt card, or even a mobile payment app that has a routing and account number.
If you need support in getting an account, you can contact Prepare + Prosper at financial@prepareandprosper.org or 651-262-2170 to get help navigating your options.
Or visit www.BankOnMN.org to see a list of financial institutions offering safe and affordable accounts.
Get $25 for Saving Part of Your Refund in Your Child’s CollegeBound Account
Your tax refund is often the largest check your family receives all year, and it offers the perfect opportunity to contribute to your child’s college savings.
If you make a deposit of any amount in your child’s CollegeBound account during the tax season (between February 1 and May 31, 2026), you can earn a $25 bonus in their account.
How to Make a Deposit in your CollegeBound Saint Paul Account
In person: Make a deposit at any Old National Bank location. Bring your deposit (cash, check, or money order) and your child’s account number with you. Find an Old National location at https://locations.oldnational.com/
Join us for Deposit Day at Old National Bank!
Saturday, March 28, 2025 from 9 am to 12 pm
Old National Branch at 1570 Concordia Ave, Saint Paul 55104
- By direct deposit: Automatically deposit funds from your paycheck into your child’s savings account. Ask your employer for options.
- Online Bill Pay (ACH): You can make a deposit using Online Bill Pay or an external transfer from your bank or credit union. You can choose whether you want to make a one-time or recurring payment.
- Split your refund: When filing your taxes, you can direct deposit your refund into up to three accounts. Enter the information about your child’s CollegeBound account and how much you want to deposit when choosing how you’d like to receive your refund. By splitting your refund, you get the convince of sending your money where you want it the first time instead of moving it out of your checking or savings account later.
Need your CollegeBound Account Info? Old National Bank Routing #: 086300012 The information was provided on your Child’s Account Card in the CollegeBound Saint Paul Don’t have the account number? Contact CollegeBound at 651-266-8829 or collegebound@ci.stpaul.mn.us |
Free Tax Help
You may also qualify for free tax return preparation!
If you earn $67,000, or less, You may qualify for help with your federal and state taxes from an IRS certified volunteer at a Volunteer Income Tax Assistance (VITA) Site.
CollegeBound VITA partners:
Check with each organization for specific free tax prep eligibility guidelines and availability.
- Prepare + Prosper
- CLUES - Comunidades Latinas Unidas En Servicio or call 651-379-4200
If you earn $89,000 or less, You may be eligible to file electronically for free from home.
In Saint Paul, Prepare + Prosper & CLUES provide access to free tax prep software, plus offer training and support to file taxes yourself. Check out their websites for "DIY" or "FSA Tax Prep."
OR Go to www.revenue.state.mn.us and enter "free tax preparation" into the Search box to find other locations & resources.