Do Not Miss out on the New Child Tax Credit!
The new and refundable Minnesota 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 you qualify for depends on your household income and family size. The amount of the credit decreases if your income is over $31,090, or over $36,880 for Married Filing Jointly.
Learn more at: https://www.revenue.state.mn.us/child-tax-credit
New! Advanced Child Tax Credit Payments
In 2025, you may choose to receive advance payments for next year’s MN child tax credit. You have the option to receive either:
The credit in full when you file in 2026. This is the default choice. If you do nothing, this is what will happen similar to other years.
OR
Part of the credit in advance in 2025. With the advance, you would receive three payments throughout 2025 (August, October, December). You would receive the remaining balance when you file taxes in 2026.
You’ll receive the same total amount of money, no matter which option you choose. Your decision depends on what fits best with YOUR financial situation and goals.
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.
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, 2025), 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
Join us for Deposit Day at Bremer Bank!
Saturday, March 29, 2025 from 9 am to 12 pm
Bremer Bank: 423 Snelling Ave N, Saint Paul, MN 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? Bremer Bank Routing #: 096010415 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.
If you earn $84,000 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.