Tax time can pay off big time for some Central New Yorkers.
“One lady walked out of here with $11,500 more than she expected,” said Elaine Fartwell, the tax program coordinator for P.E.A.C.E. Inc., which stands for People’s Equal Action and Community Effort.
PEACE is part of a multi-organization effort throughout Onondaga County to help taxpayers file all those forms. The organizations encourage eligible taxpayers to take advantage of the Earned Income Tax Credit, a credit for low-income people, called the EITC.
The credit has been available since 1975. But many eligible people do not claim the benefit, says IRS spokeswoman Dianne Besunder. As many as one in four of those eligible, Besunder said, don’t file for the credit. And some people may end up paying more than they should for help with their taxes.
If people qualify, the government wants them to claim their refund, Besunder said. “In these economic times, we just want to make sure that everyone who is entitled to the EITC (tax credit) receives it,” Besunder said.
The guidelines vary on a case-by-case basis, she said. But everyone making less than $42,000 should apply.
That’s where P.E.A.C.E comes in. The group’s 90 trained staff members will be on duty one more time today, April 15, the deadline for filing taxes. Here are the details:
•Carrousel Mall, near Bon-Ton entrance
•Noon to — 8 p.m.
•Filing is free.
If you go, here is what you should bring:
•Valid driver’s license or photo identification (self & spouse, if applicable)
•Social Security cards for all persons listed on the return
•Dates of birth for all persons listed on the return
•All income statements: Forms W-2, 1099, Social Security, Unemployment, or other benefits statements, self-employment records and any documents showing taxes withheld
•Dependent child care information: payee’s name, address and Social Security Number or Taxpayer Identification Number
•Proof of account at financial institution for direct debit or deposit (i.e. cancelled/voided check or bank statement)
•Prior year tax return (if available)
•Any other pertinent documents or papers
An advantage to using volunteer services is that it does not cost money. In New York State alone, Fartwell of P.E.A.C.E. said, $26.6 million went to paid tax preparers in 2008. And in these economic times, she said, people have to be frugal.
“Families are working but are not able to make it week to week,” she said.
People seeking tax help may get more than they expected through the earned-income tax credit, Fartwell said. The taxpayers can claim the credit for previous years if it had not been filed, she said.
And while that may not always add up to $11,000, it’s something. Said Fartwell, “We’re taking a chunk out of that stress.”
(Ricardo Ramirez is a graduate student in magazine-newspaper-online journalism.)
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