If you are 18 years old or above, making an annual income of $30,950 or lower, and submitting your own tax returns (excluding being claimed as a dependent by someone else), you might meet the criteria to qualify for the CalEITC. If you are 18 years old or above, earning $30,950 or lower annually, and filing your own taxes (not someone else's dependent), you could potentially be eligible for the CalEITC. Utilize our calculator tool to ascertain your qualification status Input: and estimate the amount of your credit. Output: Calculate and determine the value of your credit.

If you have children, you might be eligible for an increased credit, and in the case that your child's age is below 6, you have the opportunity to receive an extra amount of $1,117 as part of the Young Child Tax Credit.

If you’re currently enrolled as a student or in the process of repaying student loans, you may potentially be eligible for If you’re a student or paying off student debt, you may also meet the requirements to avail education tax benefits. 

What is the process of submitting my tax returns? What is the procedure for filing my taxes?

Young individuals in their early adulthood frequently opt for the IRS Free File to avail themselves of complimentary tax preparation, free electronic filing, as well as free direct deposit services. In this regard, the IRS Free File serves as an advantageous platform for young adults as it enables them to prepare and file their taxes electronically without any charge while also facilitating the direct deposit of refunds into their accounts. Here is where you can discover assistance with tax preparation without any charges. Additionally, at this very place, you can uncover guidance and support for preparing your taxes completely free of cost.

If you are filing your taxes for the first time, it is important to have the following information readily available and organized:

  • The Social Security number or ITIN (Individual Tax Identification Number) is an important identification document for individuals.
  • The data regarding wages and income, such as Form W-2 or Form 1099, which also encompasses the taxableness of college scholarships or grants, needs to be provided.
  • Documentation for every tax credit and deduction available is provided.
  • To receive your refund directly into your bank account, please provide your bank account number and routing number.