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Article Archive >> Business

Free tax preparation and advice

Free tax preparation and advice

(NAPS)-This year, there's good news for taxpayers.
First, you don't have to file and pay by April 15th. Due to a holiday in Washington, D.C., the deadline's been pushed back to April 17, 2012.
Next, you may be able to get free help filing your tax form. That's because the Walmart Foundation is committed to providing hardworking Americans with access to tax-time savings opportunities. The foundation granted $4.35 million to several philanthropical organizations so they can provide free tax-filing services. The grant will:
* Fund 100 United Way-led, community-based tax preparation campaigns;
* Support the MyFreeTaxes.com National Tour, operated by One Economy, that provides free self-tax preparation tools;
* Support the National Disability Institute's Real Economic Impact Tour to better reach and serve taxpayers with disabilities.
There are a number of ways that you can file your taxes for free this year. If you earn less than $49,000 a year, a trained volunteer tax preparer will help you complete and file your federal and state taxes at no charge at any one of the hundreds of Volunteer Income Tax Assistance (VITA) sites located in communities nationwide. These sites are run by nonprofit organizations with funding from multiple sources, including the Walmart Foundation. Go to www.myfreetaxes.com to find a VITA site near you, or text the word "taxes" and your zip code to 91011.
You can also file your federal and state taxes online at no charge at www.myfreetaxes.com. This service is available to individuals and families that earn less than $57,000 per year.
Finally, many hardworking Americans won't have to pay anything at all thanks to tax credits such as the Earned Income Tax Credit (EITC)-a refundable federal income tax credit for low- to moderate-income working individuals and families. When the credit exceeds the amount of taxes owed, it results in a tax refund to those who qualify for and claim the credit.
To find out if you qualify for this tax credit, download the free app for iPhone and Android smartphones at http://bit.ly/mytaxbackapp.
More Help
Dial 2-1-1 for more information about free tax preparation options in your area, including how to schedule an appointment and what documents you need to bring with you.

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