Starting February 13th the Twin Valley Senior Center will be hosting the AARP Tax-Aide Volunteers for free tax clinic sessions. The volunteers will be on hand on Fridays, by appointment only, for the preparation of your 2014 federal and Vermont individual income tax returns. We will begin scheduling appointments in January. Many of you are familiar with this service, and we look forward to seeing you again.
We work under procedural requirements established by AARP in partnership with the IRS and the Vermont Department of Taxes, after completing our training and certification exam in January. Starting with an Interview Form to make certain we have all the relevant information, we make every effort to complete your returns completely and accurately and in strict confidence. Each set of returns is printed and reviewed with you by a second preparer to make certain that you are fully in accord with its contents. At that point, and with your signature (both signatures for a joint return!) we can file your returns electronically or we can print them for you to mail. In either case, you will have a printed copy for your records as well as all of your back-up information. If you wish, and if you bring a blank check from which we can copy the bank routing and account numbers, you can arrange for direct deposit of any refund you are due.
What should you plan to bring to your tax appointment?
• The Interview Form, if you’ve completed it ahead of time (doing so makes the process quicker and easier for everyone involved)
• Social Security cards (or mail from Social Security) with the full names of both spouses and any dependents you’ll claim - names and SSN’s must exactly match the agency’s records or the return will be returned for correction. Also dates of birth for any dependents you’ll claim.
• Photo ID for both spouses - identity theft is a big concern and we need to check this!
• All your ‘tax information’reporting income - wages (and tips), retirement and Social Security benefits, unemployment, dividends and interest, proceeds from sales (and the cost of assets sold), earnings from self-employment, gambling winnings, etc. etc.
• Records of expenses, including mileage, you might claim as deductions from your self-employment income or as itemized deductions, and any payments of estimated taxes
• Your 2014-5 property tax bill if you own your home (to claim the Property Tax Adjustment)
• Landlord’s Certificate (signed original) for Renter Rebate
• Your 2013 tax returns for reference and comparison
• For Property Tax Adjustment or Renter Rebate, the name, SSN and income of anyone else who shares your home (required to be reported as part of the ‘Household Income’used to calculate the Adjustment or Rebate)
• If you are expecting (or maybe just hoping for) a refund, and you want it to be directly deposited into your checking account, a blank check that has the bank routing and account numbers to be entered in your tax return filing.
We are trained to prepare most ordinary returns. However, if you have income from rental property, a business with employees, inventory, depreciable assets or expenses in excess of $10,000, those schedules are ‘out of scope’for us. We can handle capital gains or losses from the sale of securities or your primary residence if you have the cost or ‘basis’information. There are a few other unusual items that may be ‘out of scope’- if you have questions about whether or not we can prepare your returns, please leave your name and number at Twin Valley Senior Center office 223-3322 and one of us will be happy to call you back
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