Tax Resources

It is tax season again – but don’t panic yet. Below are a few things that might make filing your returns and securing a refund a little easier:

• See if you qualify for Free Tax Assistance. If your annual income of $49,000 or less, you may qualify for free tax help through the Volunteer Income Tax Assistance Program. Additionally, if you think your tax questions cannot be handled over the phone, you can visit a Taxpayer Assistance Center for free face-to-face tax help. Use the IRS’ Office Locator to find a center nearest you, find an AARP tax assistance center, or visit one of the Tax-Aide Sites in Congressional District 7.
• The Earned Income Tax Credit. Individuals earning less than $43,352 and couples with children earning $48,362 from working or owning their own business may qualify for The Earned Income Tax Credit. To see if you qualify, use the IRS’ Earned Income Tax Credit Assistant. To claim the Earned Income Tax Credit, you need to fill out Form 8862.
• If you own a small business, you might qualify for a tax credit. In response to the recession, Congress passed the The Small Business Jobs Act of 2010, which created additional tax credits for small businesses to help move our economy forward. Click here to see if your small business qualifies for any of these new tax provisions.
• Parents and college students may qualify for the American Opportunity Credit. This credit can be claimed for the first four years of college expenses. You're eligible for full credit if you earn less than $80,000 a year, or a couple earning $160,000 or less. If you earn more, you still may qualify for a partial tax credit. Find out more here.
• The IRS’s new tool, Freefile allows you to file your tax forms online without the hassle of mailing. This will help you cut down on paperwork.
• Where’s My Refund? is an online tool that allows you to track your refunds. And get your refund faster through setting up direct deposit by clicking here.

Additional Resources:

• 2011 Tax Rates
• IRS Tax Tips for 2011

• IRS Free File Page which includes directions for Free File Fillable Forms as well as the additional Free File options.
• Information for claiming the Making Work Pay Credit
• All the IRS forms and publications at http://www.irs.gov/formspubs/index.html