Tax Season Tips
Filing taxes can be a stressful and confusing endeavor, which is why it is especially important in tax year 2014 to use all the resources at your disposal. Below is information we hope will help you save time and money this tax season. Don't forget to file your taxes by April 15th!
· Free tax preparation help is available for many taxpayers
VITA (Volunteer Income Tax Assistance) trains IRS-certified volunteers who provide free basic income tax return preparation with electronic filing to individuals who generally earn about $53,000 or less. In addition to VITA, the TCE (Tax Counseling for the Elderly) program offers free tax help for senior taxpayers. To learn more, visit the VITA/TCE page on IRS.gov and the VITA Locator Tool to locate the closest VITA or TCE site near you.
· File online with Free File
To help taxpayers prepare and file their income tax returns electronically, the IRS and the Free File Alliance have developed the Free File program. This private-public partnership makes brand-name tax software products available free of charge. You can prepare and e-file your federal return for free by visitinghttp://www.irs.gov/freefile. If you make less than $60,000, you will find a product that meets your situation. Once you select the software, it does all the work.
· The ACA and Taxes
Thousands of people in Maine, and millions more around the country, are able to afford high-quality healthcare because of the Affordable Care Act. With the continued implementation of the new healthcare law, you will notice some changes when you file your taxes.The individual shared responsibility provision of the health care law requires you and each member of your family to have qualifying health care coverage, also known as minimum essential coverage. If you did not have health insurance in 2014, you may qualify for an exemption, or be required to make an individual shared responsibility payment when filing your federal income tax return.
· Taxpayer Advocate Service
The IRS has a Taxpayer Advocate Service that offers free, independent, and confidential tax assistance to taxpayers unable to resolve their tax problems through normal channels or individuals experiencing a hardship. The service helps individual and business taxpayers resolve problems with the IRS. Visit theirwebsite for more information or call (207) 622-8528 in the State of Maine or 1-877-777-4778 elsewhere.
Additional Resources
Lastly, be sure to visit IRS.gov to access more tips and tools that will help you save money this tax season.
Please visit https://www.king.senate.gov for more information and let us hear from you. Our toll free number in Maine is 1-800-432-1599.
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