The Benefit Bank

ABCAP offers free tax help

Ohio families affected by the recession may be eligible for a tax credit they have never used before.

 The Earned Income Tax Credit (EITC) is a refundable, federal income tax credit for low to moderate income working individuals and families. ABCAP can help community members find out if they are eligible for the tax credit and, in many cases, prepare their taxes for free.

 “This tax credit is designed for people who are underemployed, or working part-time or struggling in a business they own,” Lisa Tumbleson-Davis said. “It allows working people to keep more of what they earn.”

 Eligibility factors include how much you earned in 2010 and how many children you have. For tax years 2009 and 2010, the program was expanded as part of the American Recovery and Reinvestment Act. The average credit is more than $2,000 but the maximum credit for 2010 is $5,657.

 “There are a lot of people who have never filed for the EITC before. They used to make more money and they weren’t eligible,” Mr. Norris, ABCAP Executive Director, “Now, with rising unemployment and people working fewer hours or for less pay, they are eligible and need to know it.”

 Even single adults and couples without children can qualify for the credit, although families with children receive larger credits.

 Earned income and adjusted gross income (AGI) must each be less than:

• $43,279 ($48,279 married filing jointly) with three or more qualifying children
• $40,295 ($45,295 married filing jointly) with two qualifying children
• $35,463 ($40,463 married filing jointly) with one qualifying child
• $13,440 ($18,440 married filing jointly) with no qualifying children

 Tax Year 2010 maximum credit:

• $5,657 with three or more qualifying children
• $5,028 with two qualifying children
• $3,043 with one qualifying child
• $457 with no qualifying children

 “Millions of EITC dollars go unclaimed every year,” Lisa Tumbleson-Davis said. “We don’t want that to happen in our community. Many people struggle with preparing taxes and low-income people cannot afford expensive advice to get the refund they should. We want everyone to know they can count on ABCAP for free tax help.”

 ABCAP is also an Ohio Benefit Bank site. The Ohio Benefit Bank is a public-private partnership providing community outreach and access to low and moderate income Ohioans for free tax preparation and public benefits. The Ohio Benefit Bank is an online program and ABCAP has staff trained to guide users through it. In addition to free tax preparation, the Benefit Bank program will help determine eligibility for the EITC and many types of state and federal assistance.

 Free tax preparation is available to residents who made Sixty Thousand Dollars ($60,000) or less in 2010.

Locations for tax preparation are in Georgetown, Winchester and West Union.

An appointment is needed. Please call Teresa Whisman at (800) 553-7393 or (937) 378-6041 Extension 221. 

 When you come for your appointment bring the following items:

·         Valid picture I.D.

·         Social Security card(s) for you, your spouse, children and others shown on the tax return

·         Copy of your 2009 tax return if possible

·         Copies of all W-2’s, 1098’s, 1099’s and source and amounts of any other income received by you and your spouse

·         Child/Dependent Care providers tax ID Number

·         Student loan interest/college tuition expenses if applicable

·         For direct deposit into a savings or checking account, bring proof of account number and routing number (copy of voided check)

·         Medical bills paid by you

·         Copy of property tax bill that was paid

·         If claiming First Time Home Buyer Credit—proof of ownership