The Earned Income Tax Credit is a financial boost for working people and can put up to $5,751 into the pockets of eligible taxpayers. The city Department of Human Services will host a free tax preparation event on Jan. 27 from 9 a.m. to 2 p.m. at the department office at 3432 Virginia Beach Blvd. Workers can get help from IRS-trained and certified volunteers to determine their EITC eligibility and claim the credit. Eligible workers must file federal income tax returns, even if they are not required to file, and must claim the credit to get it. To help preparers accurately determine EITC eligibility and prepare returns, individuals should bring:
- Photo proof of identification
- Social Security cards for themselves, their spouse and all dependents or Social Security number verification letters issued by the Social Security Administration
- Birth dates for all persons listed on the tax return
- Wage and earning statements Forms W-2, W-2G and 1099-R from all employers
- Interest and dividend statements from banks (Forms 1099)
- Copies of their prior year federal and state returns, if available
- Bank routing and account numbers for direct deposit of their refunds
- Other relevant information about income and expenses
- Amounts paid for day care, if applicable, and the day care provider's identifying number
- Both spouses must be present to sign joint returns.
Many people will qualify for the first time this year due to economic changes in their income or changes in their marital or parental statuses. Anyone earning $49,078 or less from wages, self-employment or farming in 2011 should see if they qualify. Last year, on average, the credit boosted refunds for eligible workers by $2,100.
Human Services is hosting EITC Day as part of the Mayor’s Action Challenge for Children and Families: 500 Families Financially Fit for the Future initiative. In addition to free tax preparation and free assisted self preparation, a community resource fair will give participants the opportunity to meet at no cost with financial planners, tax advocates and other community partners. For more information, call Lori Irwin at (757) 385-3551.
For those with incomes of less than $49,078, free tax preparation assistance will be available throughout the tax filing season at several locations. Click here or visit www.VBgov.com/hs for a complete listing of sites. More information is available from the IRS at (800) 906-9887.
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