VITA Gives Free Tax Help In Middle Tennessee

The information suggests that the average person with an income north of $1 million per year pays 25% or more of adjusted gross income in taxes.

“[The] one-third of the population eligible for EITC changes each year as their personal circumstances change”, said IRS Commissioner John Koskinen. The Naval Air Station Lemoore volunteers have completed rigorous training from both the Internal Revenue Service and the California Franchise Tax Board trainers and, starting Monday, Feb. 1, they will be assisting in the preparation and filing of tax returns for a year ago. If Congress had again neglected criticalprovisions of these credits – otherwise set to expire -16 million Americans, including 8 million children, would have fallen into or deeper into poverty. You may’ve checked in the past and found you weren’t eligible for the credit.

Anderson adds some of these exceptions were not caught on some income tax returns a year ago. Eligible families with three or more qualifying children could get a maximum credit of up to $6,242.

A tax professional can be especially helpful in making sure you qualify for all the tax deductions and credits that may be available to you. In other words, those eligible may get a refund from the IRS even if they owe no tax.

Required items include Social Security cards, photo identification, all W-2 forms and any other income documents, unemployment compensation (Form 1099G), interest or dividend income (form 1099INT and 1099DIV), and last year’s New York State and Federal Tax Returns.

“Do not be fooled by vehicle dealers who will prepare your taxes”. Moreover, to get the EITC on a 2015 return, they must get these SSNs before the tax-filing deadline (April 18, 2016 for most people, or October 17, 2016, for those who get extensions).

· Birth dates for the taxpayer, spouse and dependents on the tax return.

“We will be directly depositing refunds, and returns should take 10 days or less to be deposited”, she said. ” tool available on IRS.gov or on IRS2go”. But they suggest you seek out a commercial preparer if you have an especially complicated return.

Entergy Louisiana LLC is sponsoring Super Tax Day – a free tax preparation event provided by local volunteers and community advocates for working families.

Who Can Claim the EITC? However, beware of scams that claim to increase the EITC refund.

Schedule D filersThe IRS also reports that 299,741 millionaire income earners filed tax returns with a schedule D, the form used to report short- and long-term capital gains.