March 03, 2011
Does tax time make you want to bury your head in the sand until April 15 (or April 18 this year, since the IRS gave us all a few extra days)? It does me, but fortunately, my husband actually enjoys this time of year. Here are a couple of his tips.
Once you have your W-2 forms, create a draft of your tax returns so you’ll know whether you’ll be getting a refund or paying. If it looks like you’re going to owe money, you can wait until April 18th to file. On the other side, big refunds are nice, but it's still money that's yours. So, you may want to adjust your withholdings in 2011 by filling out a new W-4 form.
If you have low or moderate income, or if you have children, be sure to see if you can use the Earned Income Credit form. Click here for more information about the Earned Income Tax Credit. And, you can complete the form here.
AARP Tax-Aide representatives will be at the Colbern Road Branch and other MCPL Branches to assist seniors with moderate incomes with tax questions and tax return preparation. Check the MCPL Website or call your local branch for a complete listing of times and locations.
Colbern Road Branch