What Parents Need To Know About Child Tax Credits In Minnesota

Here we are in the latter half of the year and when most folks think about October, they may think of family birthdays, the World Series, or Halloween. But October is also home to the October 15th tax deadline period for those who filed an extension on their 2024 taxes.

Even if you filed your taxes on time in April, did you file your child tax credit? The Minnesota Department of Revenue shared on “X” last week that there is still time to file for the credit that is worth $1,750 per child.

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The reminder came with the information that even if you do not owe taxes, this is a refundable credit with no limit on the number of children that can be claimed.

If you have kids over 17, they will qualify for a different credit called the Credit for Qualifying Older Children.

This credit just started with the 2024 tax season, so if you missed it, that’s because this is the first year you would have known about it. There are certain qualifications that must be met of course, here’s a look at who is not eligible for this credit:

You were a full year non-resident

You have an IRS ban on claiming the federal Earned Income Tax Credit

You are someone else's dependent or qualifying child

Depending on how many children you will be claiming, there are varying earning thresholds that cannot be exceeded, and that figure also varies depending on if you are a couple filing for the tax credit, or if you are a single parent.

There are more layers than what I have described here, so it may be worth a call to your tax professional or to contact the Minnesota Department of Revenue to make sure you’re not leaving money on the table.