We know the deadline to file your taxes is months away, but it’s hard not to think about what you’d do with that refund.
Will you go on vacation? Make an extra car payment? Or put it away in your savings account for a rainy day? It’s kinda like when you dreamt about what you’d do if you won the $1.5 billion Powerball jackpot, only this is real money we’re talking about and not something 99.99999 percent of us will never see.
And let’s remember, this is your money and you really shouldn’t have to pay someone a portion of it just to make sure you get every penny you’ve earned and deserve. Defeats the purpose of getting all those extra pennies, don’t you think?
“This might be the largest financial payout they’ll get all year,” said Cary Gladstone, director of asset building at the Granite United Way.
But doing your taxes on your own can be a daunting task. Sure, those online tax programs take you step by step, but there’s no substitute for having a real, live knowledgeable person sitting in front of you ready and able to answer all your questions.
We could try to help you, but it would likely end in a letter from the IRS and us in some deep trouble. So if you make less than $62,000 a year, either as an individual or a couple if you’re filing a joint return with your significant other, there’s this great program offered by the Granite United Way called the Volunteer Income Tax Assistance program. And it’s free.
It’s been going on around the state for the last eight or so years, and there just so happens to be one stationed in Concord. Did we mention that it’s free?
On Saturdays, starting this week and going through March 26, the Concord VITA program will be open at Workplace Success, located at 2 Industrial Park Drive, from 9 a.m. to 2 p.m.
“We want people to know about this,” Gladstone said. “We’re trying to reach the segment of the population who can use this.”
Now before you make your way down there this weekend trying to be the first person in Concord to have their taxes into the IRS – assuming you’ve got all the necessary paperwork to file your taxes – there’s a few things you should know.
One is that you can’t just show up at the VITA location – you need an appointment. There are two ways to go about making one. You can call 2-1-1 or visit nhtaxhelp.org.
Whether you talk to a human being or prompted by the computer, there will be a list of stuff you need to bring like a valid identification, Social Security card, W-2 form and other tax-related materials. And just remember what we mentioned before, this free service is for people with low to moderate incomes, below $62,000. So if you make more than that, congratulations, but unfortunately this isn’t for you.
As you may have noticed from the title of the program, the people who help with your taxes are volunteers. They may not be tax professionals or accountants, but they’ve gone through the necessary certification process set forth by the IRS – about 20 hours worth – to ensure they’re doing a good and correct job. You sure don’t want to mess up on your taxes, that’s for sure.
“We’re not an accounting firm, but we operate under the direction of the IRS,” Gladstone said. “We didn’t just write our own curriculum.”
But there are some limitations to what can be done through the program. They can work with people who are self employed, but not ones who have employees or more than $25,000 in expenses. They can help with itemized deductions, but not issues pertaining to depreciation or certain aspects of the Affordable Care Act.
“We can handle just about anything,” Gladstone said.
There’s the split refund option, where they help you decide how much to put into a savings account (that rainy day fund). And if you want to add a little extra money to your pocket, there’s a couple easy ways to do so. At the time of your filing, enter your contact info, the total amount of your refund along with how much is put into each account for a chance to win one of 10 random $100 drawings per week.
You can also enter the $25,000 grand prize by submitting a photo and a caption describing what you would do with $25,000.
“We want to connect people with financial resources,” Gladstone said.
Last year, Gladstone said the program in Concord filed 337 returns accounting for more than $500,000 in refunds and saving an estimated $70,000 in filing fees. Seventy took advantage of the earned income tax credit and another 11 qualified for the education credit.
“The IRS estimates one in every five people eligible to claim the earned income tax credit don’t claim it” Gladstone said.
Appointments are being scheduled now for this week and beyond at 2-1-1 and nhtaxhelp.org.