|By PR Newswire||
|April 11, 2014 05:49 PM EDT||
ROCKVILLE, Md., April 11, 2014 /PRNewswire/ -- Last-minute tax filers often fall victim to common tax errors either by overpaying a preparer, missing credits/deductions, or making math errors. With the tax filing deadline less than a week away, one of the best ways for eligible tax filers to save money, maximize their refunds and get their refunds quickly is to file for free with MyFreeTaxes. Here are some top filing tips to remember:
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1. Find out if you qualify for free options.
According to the National Society of Accountants, the average tax preparation fee for an itemized return is $229. Millions of filers pay these fees without knowing that they may qualify for free filing options. If you haven't already filed, consider free tax preparation services like MyFreeTaxes.com which offers free federal and state filing to individuals and families with a household income of $58,000 or less. MyFreeTaxes.com is the only online platform that provides free federal and state tax filing in all 50 states and the District of Columbia to eligible filers.
2. Find out if you qualify for the Earned Income Tax Credit and other valuable credits.
The Earned Income Tax Credit (EITC) can boost the wages by up to $5,000 for individuals and families who qualify. The amount of the credit depends on your income and the number of qualifying children in your household.
3. Gather correct documents.
Tax filing tells a story of your past year, and your documents are the archives in which it is recorded. Be sure to have the correct Social Security or Individual Taxpayer Number (ITIN) for each family member and working adult. Also gather your W-2 forms and all other income forms which can include unemployment, social security, health care reimbursement, state tax refunds, gambling winnings and contract work. If you expect to receive a refund from the IRS, have your correct bank account numbers handy— which include your bank or credit union's routing number and savings or checking account number. This will allow your refund to be deposited automatically into your account via direct deposit and received within 7-10 days of filing.
4. Save time by filing online.
The IRS recommends online filing as the most efficient way to get your refund. MyFreeTaxes.com offers a comprehensive tool, powered by H&R Block®, to help individuals prepare and file their taxes faster. Progress is saved at every step to ensure that your work is not lost. A valid email address is all that is required for eligible filers to participate. Interested filers should visit MyFreeTaxes.com to get started. Taxpayers requiring additional assistance can contact MyFreeTaxes' helpline 1-855-My-Tx-Help (1-855-698-9435) or get help through online chat support. Representatives are available Monday – Saturday, 10 a.m. – 10 p.m. (EST) via phone or online chat.
If you filed an extension with the IRS or missed the tax deadline, you can still use MyFreeTaxes.com through October to complete your federal and state return for free if you qualify.
The MyFreeTaxes Partnership provides free state and federal tax preparation and filing assistance for qualified individuals and families. It's easy, safe, secure and 100-percent free. Powered by the Walmart Foundation — in cooperation with Goodwill Industries International, National Disability Institute, and United Way — the MyFreeTaxes Partnership's online and in-person tax preparation and filing services have helped millions of families claim nearly $8 billion in tax credits and refunds since 2009. Tax filing software is provided through MyFreeTaxes.com and powered by H&R Block.
About Philanthropy at Walmart
Walmart and the Walmart Foundation are committed to helping people live better through philanthropic efforts. By operating globally and giving back locally, Walmart is uniquely positioned to address the needs of the communities it serves and make a significant social impact within its core areas of giving: Hunger Relief and Nutrition, Sustainability, Career Opportunity and Women's Economic Empowerment. Walmart and the Walmart Foundation are leading the fight against hunger in the United States with a $2 billion commitment through 2015. Walmart has donated more than one billion meals to those in need across the country. To learn more about Walmart's giving, visit foundation.walmart.com.
About Goodwill Industries International
Goodwill Industries International is a network of 165 community-based agencies in the United States and Canada with 14 affiliates in 14 other countries. Goodwill is one of America's top 25 most inspiring companies (Forbes, 2012). Goodwill agencies are innovative and sustainable social enterprises that fund job training programs, employment placement services and other community-based programs by selling donated clothing and household items in more than 2,700 stores and online at shopgoodwill.com. Local Goodwill agencies also build revenue and create jobs by contracting with businesses and government to provide a wide range of commercial services, including packaging and assembly, food service preparation, and document imaging and shredding. In 2012, more than four million people in the United States and Canada benefited from Goodwill's career services. Goodwill channels 82 percent of its revenues directly into its programs and services. To find a Goodwill location near you, use the online locator at locator.goodwill.org, or call (800) GOODWILL. Follow us on Twitter: @GoodwillIntl or @GoodwillCapHill, or find us on Facebook: GoodwillIntl.
About National Disability Institute
National Disability Institute (NDI) is national non-profit organization dedicated to building a better economic future for people with disabilities. The first national organization committed exclusively to championing economic empowerment, financial education, asset development and financial stability for all persons with disabilities. National Disability Institute effects change through public education, policy development, training, technical assistance and innovative initiatives. Since 2005, National Disability Institute and its Real Economic Impact (REI) Network of more than 900 partners in more than 100 cities nationwide have helped 1.5 million people with disabilities receive more than $1.8 billion in tax refunds. To learn more, visit www.realeconomicimpact.org. Engage with National Disability Institute on Facebook: RealEconImpact or follow NDI on Twitter: @RealEconImpact
About United Way
United Way is a worldwide network in 41 countries and territories, including more than 1,200 local organizations in the U.S. It advances the common good, creating opportunities for a better life for all by focusing on the key building blocks of education, income and health. United Way recruits people and organizations who bring the passion, expertise and resources needed to get things done. LIVE UNITED® is a call to action for everyone to become a part of the change. For more information about United Way, please visit www.UnitedWay.org.
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SOURCE MyFreeTaxes Partnership
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