Learn how to save money on your taxes at East Dundee workshop
Could you use an extra $4,824.00? You may be eligible to receive up to $4,824.00 back on your Federal Income Tax this year! The earned income taxpayer credit is a special federal credit available to low to moderate income taxpayers, so you could pay less federal tax and even get a refund. You may be eligible for the credit if:
• Your filing status is single, and you made less than $15, 580 in 2008;
• You made up to $41, 646 if married, with two or more qualifying children;
• You file, "Married, filing jointly" if you are married;
• You have a valid Social Security number;
• Your income is earned in the U.S.;
• You are a U.S. citizen or U.S. alien for a year.
There are special rules for children who qualify: they must meet age, relationship, and residency tests, have a Social Security Number and be under 19 (or under 24, if full-time students.) They must be a child (blood relative, step, or foster), brother, sister, or their descendant and the qualifying child must also have lived with you in the U.S. more than half a year.
Individuals can learn more by visiting www.IRS.gov/eitc, calling (800) TAX-1040, or Administer Justice at (847) 844-1100. The state of Illinois has a similar credit so be sure to ask your tax preparer to investigate it when you get your taxes done. Special rules exist for U.S. Armed Forces and retirees. Free help is available at the Gail Borden Library through a Volunteer Income Tax Assistance (VITA) program and at other locations.
Administer Justice is a low-income legal and tax service provider. Administer Justice's Low Income Taxpayer Clinic can provide information and assistance in disputes with the IRS to those who earn less than 250 percent of the federal poverty guideline. The office also has a tax kiosk with tax forms, publications and frequently asked questions in English and Spanish which is freely available to all. For information, visit the organization's Web site at www.administerjustice.org or visit the office at 201 Penny Ave. (Route 68), Suite 420, East Dundee.