Local News
Tax deadline closing in, related businesses offer advice
Pauls Valley — April 15th may be a date feared by many except the IRS, but the process does not have to be a nightmare if the right steps are taken when filing.
The usual advice to bring all W-2s, your social security card, ask questions if you have them as well as proof of other items being filed on still holds true, said Becky Deaton, program coordinator for Delta Community Action, which assisted in filing 225 forms last year. The nonprofit organization that assists low income individuals is offering help to file short forms at 223 W. Washington St. in Purcell from 9 a.m.-4p.m., breaking for an hour at noon, on Mondays, and on Wednesdays in Lindsay at 308 SW 2nd St. for residents county wide.
It is also good to make sure you know of any new credits or changes including the energy efficient home improvement claim that covers areas like replacing storm doors, windows and putting a metal roof on the house good for up to about $1,500, according to an agent at the Pauls Valley H&R Block. Other new areas include the excise tax that offers refunds for new vehicles purchased after Feb. 16, 2009 and books as well as supplies can now be counted under the college tuition credit.
Important areas that people often forget to include on their tax returns is that non-related adults living in the home for a year can be claimed, gambling income must also be included each time around, and that the first $2,400 of unemployment insurance is not federally taxed, said the H&R Block Agent. With gambling, proof of income earned must be shown in at least the form of a receipt and residents also need to file if money is pulled out of retirement accounts.
The latest one should file with a public accountant is March 30 in order to give them enough time to go over records, said Stephanie Knapp, a certified public accountant in Lindsay. A new item she said residents should look for is the making work pay tax credit where you can receive up to $400 dollars.
When you file it is important to remember that an extension to file is not an extension to pay, which means that if you owe the government money you need to pay and not wait until after the 15th, said Knapp. People also need to file their return without comparing to another person since each person’s determination can be different.
“Do not bring all receipts and everything unorganized to a filing location if you want it done quickly,” said Knapp. “If you choose a preparer, choose one that is certified to do the work and try to find someone who has done it before and updates their training.”
For More Information: www.irs.gov
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