Do Not Miss out on the New Child Tax Credit!
The new and refundable Child Tax Credit is available to Minnesotans with children under age 18. You may qualify for up to $1,750 per child with no limit on the number of children.
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 of the credit decreases if your income is over $29,500, or over $35,000 for Married Filing Jointly. How much you receive is based on your family size and income.
Learn more at: https://www.revenue.state.mn.us/child-tax-credit
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, 2024), 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 Bremer Bank location. Bring your deposit (cash, check, or money order) and your child’s account number with you. Find a Bremer Branch at www.bremer.com/locations
- 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.
Info for Direct Deposit and ACH: Bremer Bank Routing: 096010415 Need your CollegeBound Account Number? The information was provided on your Child’s Account Card in the CollegeBound Saint Paul Welcome Kit or the February 2024 tax-time mailing. Don’t have the account card? 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 $64,000, 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.
If you earn $79,000 or less, You may be eligible to file electronically for free.
In Saint Paul, Prepare + Prosper & CLUES provide access to free tax prep software, plus offer training and support to file taxes.
OR Go to www.revenue.state.mn.us and enter free tax preparation into the Search box to find other locations & resources.