Wednesday, February 13, 2013

Get Taxes prepared for Free

Woodbine Community Organization is once again working with NAFI - Nashville Alliance for Financial Independence and the United Way of Metro Nashville to host VITA - Volunteer Income Tax Assistance. Preparation is FREE to individuals and families who earned less that $49,000 in 2011. Taxes are prepared on a first come first serve basis. Below is the schedule.
Monday: 9am-12pm and 5pm  - 8pm
Tuesday: 5pm to 8pm
Wednesday: 9am - 12pm and 5pm - 8pm
Thursday: 5pm - 8pm
Friday: 9am to 12pm
Saturday: 9am - 3pm
Sunday: Closed
Please bring the following to the tax site: (1) proof of identity (2) Copies of ALL W-2, 1089, 1099 forms (3) Social Security Card(s) or Individual Tax Identification Number card for ALL individuals listed on Tax return (4) Banking Information (checking and/or savings deposit slip) for direct deposit process (5) If e-filing a joint return, BOTH spouses MUST be present to sign return (6) Amounts/Dates of estimated or other tax payments made, etc. (7) Child care provider Identification Number (8) Amounts of other Income.

The Woodbine Community Organization (map) is the primary VITA location. For other locations call 211 and ask.

Many low income people pay their limited funds for someone to do their taxes when their tax returns may be very simple to prepare. Worse than that is that many low income people are talked into getting a "rapid refund" which is really a tax anticipation loan carrying an interst rate of up to 600%.

If you have a low income family member, friend or employee, do them a favor and tell them they can get their taxes done for free. It is also a great opportunity to provide some political education. Many poor people think that they should be pleased when they get a refund. They do not know that they have been ripped off and that the government kept their money all year and paid them no interest. Many really do not know that a refund is their money. Also it is great opportunity to provide some financial education and explain how interest works and why a tax anticipation loan is a bad deal.

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