Volunteer Income Tax Assistance - VITA

Interested in helping with the Volunteer Income Tax Assistance Program (VITA)? Free training is available to become a Certified Tax Preparer.  If you are willing to volunteer at least four hours of your time per week during tax season, please contact The St. Lucie County Housing and Community Services Office at (772)462-1777 or email us at Comm_info@stlucieco.org.

Volunteer Income Tax Assistance (VITA) is a group of volunteers in the community who are trained and certified by the Internal Revenue Service.  Many of the volunteers have a strong background in accounting, bookkeeping or previous VITA experience.  Many have no expereince, but are willing to learn! VITA sites prepare and e-file form 1040 and prepare returns within the volunteers's level of training and the scope of the VITA progam. Those with more complicated returns, may be referred to other locations.  The volunteers treat all clients professionally, with courtesy and respect.  Safeguarding the confidentiality of the client is priorty at all VITA sites! 

The FREE Tax Assistance sites are provided to help families who earn less than $49,000 annually to avoid: 1) having to pay for tax preparation and 2) paying high interest and fees on rapid refund loans. With e-file and direct deposit -  you can get your returns in as quick as 10 days! 

What should you bring with you to preparation ?

• Social Security numbers for you, your spouse, and all your dependents
• Last year's tax returns
• W-2s 
• 1099s
• Alimony Received
• Unemployment income statements
• Social Security income statements
• Any other income statements
• Tuition payments and student loan interest payments
• IRA Contributions
• Receipts or listings of itemized expenses, such as:

• Daycare expenses- name, address, and Social Security number or EIN for each provider paid.
• Property Tax Refund documents
• Property tax statements
• For direct deposit/direct debit, bring your check book to verify your bank account and routing information

Earned Income Tax Credit

It is that time again and with the current economic situation -  filing your taxes could be a good or a bad thing! For many who have only worked a little this year there is a wonderful tax credit that can help. This credit was developed in 1975 by the Federal Government and has been deemed one of the best poverty reducing systems in the US. The Earned Income Tax Credit (EITC) can provide up to $5600 in a refund if you are eligible. Interestingly -  the EITC is underused by as many as 20-25% of the families that are eligible for it! So even if you don't think you have to file - check out the EITC at one of the local free tax assistance sites!

Do You Qualify for EITC??

To qualify, you must meet certain requirements and file a U.S. Individual Income Tax Return. As described below, some EITC rules apply to everyone. There are also special rules for people who have children and for those who do not.

Individuals and families must meet certain general requirements:

• You must have earned income.
• You must have a valid Social Security number for yourself, your spouse (if married filing jointly) and your qualifying child.
• Investment income limited to $3,100.
• Your filing status cannot be "married filing separately."
• Generally you must be a U.S. citizen or resident alien all year.
• You cannot be a qualifying child of another person.
• You cannot file Form 2555 or Form 2555-EZ (related to foreign income).

Your income cannot exceed certain limitations that change annually. 

You may be eligible for the credit if:

• You have three or more qualifying children and earn less than $43,279 ($48,279 if married filing jointly) annually.
• You have two qualifying children and earn less than $40,295 ($42,295 if married filing jointly) annually.
• You have one qualifying child and you earn less than $35,463 ($40,463 if married filing jointly) annually.
• You do not have a qualifying child and you earn less than $13,440 ($18,440 if married filing jointly) annually.

*Your adjusted gross income must be less than the amount in the above list.

Tax Credits You Should Know About

A tax credit is a dollar-for-dollar reduction of taxes owed.  Some credits are even refundable, which means you might receive a refund rather than owe any taxes at all.  Here are five popular tax credits you should consider before filing your Federal Tax Return:

1.  The Child and Dependent Care Credit is for expenses paid for the care of your qualifying children under age 13, or for a disabled spouse or dependent to enable you to work or look for work.

2. The Child Tax Credit is for people who have a qualifying child.  The maximum amount of the credit is $1,000 for each qualifying child. This credit can be claimed in addition to the credit for work.

3. The Retirement Savings Contributions Credit, also known as the Saver's Credit, is designed to help low-to-moderate income workers save for retirement.  You may qualify if your income is below a certain limit and you contribute to an IRA or workplace retirement plan, such as a 401(k) plan.

4. The Health Coverage Tax Credit pays up to 80% of the health insurance premiums for eligible Trade Adjustment Assistance recipients and Pension Benefit Guaranty Corporation payees.  You can complete IRS Form 8885, Health Coverage Tax Credit to claim the credit on your return.

5. The Earned Income Tax Credit is a refundable credit for certain people who work and have earned income from wages, self-employment or farming.  Income, age and the number of qualifing children determine the amount of the credit.  EITC reduces the amount of tax you owe and may also give you a refund.

Did You Know...

There are many e-mail scams circulating that fraudulently use the Internal Revenue Service name or logo as a lure.  The goal of the scam- known as phishing- is to trick you into revealing personal and financial information.  The scammers can then use your personal information, such as your social security number, bank account or credit card numbers, to commit identity theft and steal your money.

The IRS will never ask you for detailed personal and financial information via e-mail, nor will they ask for PIN numbers and passwords.

You can help shut down these schemes and prevent others from being victimized.  If you receive a suspicious e-mail that claims to come from the IRS, you can forward the e-mail to a special IRS mailbox, phishing@irs.gov.  You can forward the message as received or provide the Internet header of the e-mail.  The Internet header has additional information to help the IRS locate the sender.

For more information you can contact:

St. Lucie County Housing and Community Services

437 N. 7th Street

Fort Pierce, FL 34950

Phone: 772-462-1777

Fax: 772-462-2094

comm_info@stlucieco.org