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It is tax season, and my office is here to provide assistance in effectively filing your taxes. I encourage my constituents to take advantage of the guidance and resources found below.

Free Taxpayer Assistance:

The IRS supports two types of free tax assistance, the Voluntary Income Tax Assistance (VITA) grant program, and the Tax Counseling for the Elderly (TCE) grant program.

Where is my local VITA Tax prep site?

https://www.irs.gov/Individuals/Free-Tax-Return-Preparation-for-You-by-Volunteers

Where is my local Tax Counseling for the Elderly (TCE) Location?

https://irs.treasury.gov/freetaxprep/

Where is my local AARP-sponsored Tax Counseling for the Elderly (TCE) Location? https://www.aarp.org/applications/VMISLocator/searchTaxAideLocations.action

Where can I find my local Low Income Taxpayer Clinic (LITC)? https://www.taxpayeradvocate.irs.gov/about/litc

If you earn under $60,000, you can electronically file your Federal income tax returns for free using the “Free File Program.” Please note, the Free File program only covers Federal income taxes.

How do I learn more about the IRS Free File Program?

https://freefilealliance.org/

Earned Income Tax Credit and Child Tax Credit:

Earned Income Tax Credit (EITC): Working families with children who work and earned less than $53,000 in income in 2015, should look to see if they are eligible to claim the refundable Earned Income Tax Credit, which could deliver an income tax refund check of over $6,200!

Learn more about the Earned Income Tax Credit: https://www.irs.gov/Credits-&-Deductions/Individuals/Earned-Income-Tax-Credit

Do I qualify for the Earned Income Tax Credit? https://www.irs.gov/Credits-&-Deductions/Individuals/Earned-Income-Tax-Credit/Do-IQualify-for-Earned-Income-Tax-Credit-EITC

Click here to learn how much money a taxpayer can get as a tax refund: https://www.irs.gov/Credits-&-Deductions/Individuals/Earned-Income-Tax-Credit/EITCIncome-Limits-Maximum-Credit-Amounts-Next-Year

Child Tax Credit (CTC): The Child Tax Credit is a refundable tax credit worth as much as $1,000 per child for parents of dependent children. I encourage anyone who claims a child or children under age 17 at the end of 2015 as their dependents on their income taxes to claim the Child Tax Credit.

Learn More about the Child Tax Credit: https://www.irs.gov/Individuals/Child-Tax-Credit

Ten Facts about the Child Tax Credit: https://www.irs.gov/uac/Ten-Facts-about-the-Child-Tax-Credit

Saving Your Money:

my Retirement Account (myRA): Last November, the Obama Administration launched the myRA program, giving workers a simple, safe, and affordable saving option.

Reasons why you may benefit from saving with myRA: 1) it costs nothing to open an account and there are no fees; 2) you can contribute any amount you choose ($2, $20, or $200 – whatever fits your budget); 3) accounts safely earn interest; 4) myRA carries no risk of losing money; and 5) if needed for emergencies, money can be withdrawn without tax or penalty.

myRA offers three easy ways to save for today and the future. In addition to saving from paychecks via direct deposit, you can also fund your myRA account from your checking or savings account. And at tax time, you can direct all or part of your federal tax refund to your myRA. myRA accounts are also portable, allowing employees to change jobs while still being able to easily maintain accounts. Once a myRA account attains a balance of $15,000, the account will automatically roll over into a privately-managed Roth IRA account so workers can continue saving. To learn more about the myRA program, visit: www.myra.gov

Bonds: For those who already have employer-provided retirement plans, or may want an additional measure to create savings, there are options to make it easier to dedicate part of an income tax refund toward U.S. savings bonds. The IRS has a program that allows people to allocate part or all of their income tax refund, up to $5,000, toward the direct purchase of U.S. savings bonds for themselves or loved ones. This program allows taxpayers to save in small amounts, without fees, and with very low penalties for cashing in early, making them a good option for many consumers who do not use traditional banking options.

Learn more about the current program of income tax refund allocation towards savings bonds: https://www.irs.gov/Individuals/Now-you-can-buy-U.S.-Series-I-Savings-Bonds-foranyone-with-your-tax-refund

Do not hesitate to contact my office at (305) 690-5905, if you require additional assistance.