Individual statements, free online support, refunds, EITC
The Internal Revenue Service (IRS) opened the 2014 tax season, indicating a wide range of services available online and encouraging taxpayers to notice the variety of benefits available, such as the Earned Income Tax Credit (EITC for short), which is often overlooked.
Taxpayers have until Tuesday, April 15, 2014 to file their 2013 tax returns and pay any tax due. The IRS expects to receive more than 148 million individual tax returns this year, today more than four out of five statements are submitted electronically.
On average, three out of four people to receive a refund, and the IRS issued more than nine out of 10 of these refunds within 21 days. Last year taxpayers received an average of $ 2.755 recoverable.
The quickest way to receive a refund is to file electronically combined with direct deposit statement. Currently, three out of four people receiving a refund, choose direct deposit.
“Tens of millions of people submit their tax returns in the coming weeks and we encourage taxpayers to visit IRS.gov as the best place to get quick help,” said IRS Commissioner, John Koskinen.
“We continue to add features and make it more users friendly to help taxpayers. People can get everything from answers on how to prepare your tax return to check the status of your refund after you have declared. ”
The IRS began accepting and processing individual tax returns after updating the forms and complete programming and testing of their systems. The IRS has also updated and strengthened its system to help protect against fraud refund and identity theft. This annual process was delayed in October after the closure of the federal government 16 days.
Highlighting the EITC Awareness Day
Also held on EITC Awareness. Koskinen and other IRS officials join local leaders and community organizations across the country to press conferences and community meetings to emphasize the benefits of the EITC, which helps families with low to moderate incomes.
Koskinen participated in an event in Baltimore CASH EITC with various local, state and federal officials.
Although it is estimated that four out of five workers and among eligible families get the work incentive, one of five people who lost the EITC. That is because they do not claim it when filing the tax return or do not file a return because they are below the threshold for having to testify.
Each year a third of the population eligible for the EITC varies due to changes in personal circumstances such as employment status or family situation changes affecting eligibility. “We urge people to report on the EITC. Many people do not know they qualify and claim the credit goes to them, “Koskinen said.
“There are easy ways to learn more about credit, either on IRS.gov or by using Free File or a software package. The IRS strives to educate people about the EITC while implementing processes that identify and prevent improper payments. ”
Tools on IRS.gov
The EITC is aimed at individuals and families earned less than $ 51.567 last year but vary by income, family size and marital status. People can see if they qualify by visiting IRS.gov and answering some questions with the EITC Assistant, a special online tool.
Eligible taxpayers can also take advantage of other useful resource, the Centers Locator VITA to locate one of the nearly 13,000 local community volunteer tax help more than 90,000 volunteers throughout the country that can help present statements free tax.
The EITC Assistant and Locator VITA centers are just two of a growing range of online services
Tele-Tax for example, helps taxpayers to see if they qualify for various tax, such as the Child Tax Credit and Additional Child Tax Credit for eligible families, the Tax Credit American Opportunity for parents benefits and college students, credit for savings for workers in low-income and moderate saving for retirement and energy credits for homeowners who make home improvements to save energy.
Automata IRS services may also help businesses operating from home for them to look at the new simplified option to claim the deduction for a home office, a clear calculation that allows eligible taxpayers to claim $ 5 per foot square, up to $ 1,500, instead of preparing the Form 8829 of 43 lines with often complex calculations.
“When taxpayers are ready to fill and submit declarations, another exclusive option IRS.gov allows any person to file their returns electronically for free File offers two options for free electronically declare: brand tax software or online forms to fill called “Fillable Forms”.
Taxpayers with incomes of $ 58,000 or less can choose a free choice between 14 software vendors. There are no income limits for the second option, the forms to fill out, the electronic version of IRS paper forms, ideal for those who are comfortable preparing their own tax returns.
Even after taxpayers report, there are tools that can help beyond the end of the tax season. One of the most popular is where My Refund is. A tool available on IRS.gov allows taxpayers to monitor the status of your refund.
Typically, this information will be available 24 hours after the IRS receives the electronic return or four weeks if the taxpayer mailed. The system is updated every 24 hours, usually at night so no need to check more often.
For taxpayers who are not concerned about a refund, but rather a tax debt you cannot pay, the tool Installment Agreement can help you determine if you qualify for a payment plan with the IRS.
And those with more serious debts and obligations can use the tool Offer in Compromise Pre-Qualifier that helps you to see if you qualify for an offer in compromise, an agreement with the IRS to establish your tax liability in an amount less than the total owed.
Another useful tool is the whole year the IRS Withholding Calculator, which helps employees to ensure that the amount of tax to be withheld from your pay is neither too much nor too little. This tool can be especially useful for those taxpayers when filing taxes, note that the refund or tax due is greater than expected.
Tax Help through YouTube, Twitter, Tumblr
The IRS also offers more than 100 short instructional videos, tax tips and other useful resources throughout the year through a variety of social media platforms. These include:
• YouTube, available in English, Spanish, and American Sign Language.
• Twitter messages in English and Spanish on @ IRSnews.
• Tumblr www.internalrevenueservice.tumblr.com.
The IRS only uses social media as tools to share information with the public, not to answer personal tax or account questions. And the IRS reminds taxpayers that never publish confidential information such as Social Security numbers, on social media pages.