As we head into the final week of tax season, many of the more than 180 free tax sites across the Bay Area are scrambling to help people who have waited until the last week to file. Although time is running short, many free sites are still open and have space available help people file their taxes thanks to Earn It! Keep It! Save It!, a United Way-led coalition. Taxpayers should call 2-1-1 to find the site nearest them (or go here).
Besides helping hard-working families save money, the free tax sites also provide low to moderate income households with access to asset building and income support resources such as public benefits, low or no cost bank accounts and financial education. We also make sure they take advantage of the numerous changes in tax laws and credits such as:
- Increased Earned Income Tax Credit – a larger credit for low-income families
- Making Work Pay Credit – possible $400 or $800 for married couples
- American Opportunity Tax Credit – partially refundable credit for education expenses
- New Vehicle Sales Tax Deduction – on top of your standard deduction
Those credits can add up quickly – especially for families with children– and make the difference for a family on the edge.
And even if you might owe, taxpayers should visit a free tax site to discuss their options. The IRS can be flexible on payment plans, short-term extensions, enforcement, and offers-in-compromise in situations where there is financial hardship.
Taxpayers can call 2-1-1 or 800-358-8832, or go to www.earnitkeepitsaveit.org, to find a free tax site near them.
