Two Great Ways to $ave on Your Taxes

By Commissioner Jeff Koons

How would you like to have your income taxes prepared for free? On top of that, how about if some deductions were included that you didn’t even know about? It’s possible just by visiting a local Volunteer Income Tax Assistance (VITA) office.

Since 2004, this partnership between Palm Beach County, the United Way and the IRS has helped thousands of low- and middle-income residents prepare their tax returns for free, saving millions of dollars in fees that would have been paid for professional tax preparation services.
If your household annual income is $49,000 or less, you are eligible for free help at any of the 20 VITA offices throughout Palm Beach County. Just go to www.unitedwaypbc.org for locations.

All VITA offices are manned by IRS-certified tax preparers who volunteer their time. Last year, they filed more than 9,500 free tax returns for refunds totaling over $15 million. This year, they expect to process more than 10,000 tax returns. All returns are e-filed and refunds are usually received within 10 to 14 days.

While you’re there, be sure to ask about the Earned Income Tax Credit (EITC). This is a federal tax credit for individuals and families who meet certain low- and moderate-income requirements. For example, if you earn $43,279 or less and have three or more qualifying children, you may be eligible for up to $5,657 in tax credits. VITA volunteers are happy to explain how the EITC works and the eligibility requirements, and help you apply for it if you qualify.

Each year, around $12 million in qualified income tax credits goes unclaimed in South Florida, according to local IRS officials. An estimated one in four taxpayers is eligible for the EITC, but many don’t know it and don’t file for it. The EITC is applicable up to three years prior, so bring your tax returns from the past three years if you think you may have qualified. For more about the EITC, please go to: www.IRS.gov

Even if you don’t qualify for the credit, you may still be able to get your taxes done for free. So why not pay a visit? Local VITA offices will be open through April 15; some are open nights and weekends. For more information, please call 2-1-1 or the United Way of Palm Beach County at 561-375-6600.

Over the years, the VITA program has had an estimated $113 million impact on our local economy. Taxpayers receiving VITA-processed refunds typically use them to pay off debt, invest in education or housing, or open a bank account. This is new money being pumped back into the local economy and a great example of a successful public/private partnership.

As always, I welcome your comments and questions. Please call me or my staff at 355-2202.