Montgomery County Volunteer Income Tax Assistance Program Vita

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what to bring when doing taxes

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  • You’ll want to choose whichever produces the bigger write-off, but the only way to know for sure is to add up your itemized deductions and compare that with your standard deduction.
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Due to enhanced cyber security protocols, beginning in 2017 many states are implementing requirements for government issued picture ID data to be included in electronically filed tax return data. Most states do not yet require government issued picture ID data but we anticipate that this may become a requirement nationwide in the future. We encourage everyone to provide a government issued picture ID even if not required by your state to file a tax return. The Social Security cards for all people included on your tax return. Transferring funds from another bank account to your Emerald Card may not be available to all cardholders and other terms and conditions apply. There are limits on the total amount you can transfer and how often you can request transfers.

State & Local Taxes

If you’reself-employed or you receive income from other sources, you’ll need to report that information on your tax return. If you’ve received any of the following IRS forms in the mail, share them with your tax preparer.

You can apply some or all of the refund toward next year’s taxes. If you normally pay estimated taxes throughout the year, that can help cover the first quarterly installment. You probably know your Social Security number, but do you know the Social Security number of each dependent you claim? You’ll want to jot those down, along with any other information your tax preparer is likely to need. For example, if you own a vacation home or rental property, note their addresses. If you sold a property in the past year, note the dates you bought and sold, the amount you originally paid, and how much you received from the sale.

You should also inquire about fees, which are likely to depend on the complexity of your return. Avoid using a firm that intends to take a percentage of your refund. The IRS website has tips for choosing a preparer and a link to the IRS directory of preparers, which you can search according to their credentials and location. Even if you hire someone else to prepare your tax return, you’ll need to do some of the advance work yourself—and the earlier you start, the better. But what if you have a more complicated tax situation or had a wild year in 2020? In that case, work with a tax pro to streamline the process and avoid filing mistakes.

You can only deduct the cost to move your household goods, storage, and the one time trip to make the final move to your new location. That’s why our associates are trained to provide every tax & related services you’ll need–now, or in the future. Your mortgage lender must supply you with form 1098 to document the amount of potentially deductible mortgage interest paid during the year. Many financial institutions now allow you to login to their website and print your own 1098. This can be especially handy if you have misplaced the original. Unemployment compensation benefits are usually taxable.


If you are a victim of identity theft, you must bring the letter from the IRS with your PIN number. A new letter is issued from the IRS every year. IF YOU RECEIVED HEALTHCARE FROM THE MARKETPLACE – you are required to file. Hand sanitizer will be available at tax site entrances, exits, and tax preparation workstations. Drop off process will be used to limit the amount of in-person contact during tax preparation.

what to bring when doing taxes

Depending on the amount of wages you earned, or combined income with social security, you may be required to file federal, state and local wage returns. Whether you do your own taxes or hire someone else to handle it, keeping good records will save you time and, in the case of a paid preparer, money. The earlier you start, the more smoothly it should go, and the sooner you’ll have put the process behind you for another year.

The tax on a major purchase, however, can be added to the table amount, so keep those receipts. To ensure your generosity pays off at tax time, keep your receipts for charitable donations. The IRS could disallow your claim if you don’t have verification. Medical costs could provide tax savings, but only if they total more than 7.5% of adjusted gross income for most taxpayers. Students can claim a deduction for tuition and fees they paid, as well as for interest paid on a student loan.

Steps To Take Before You Prepare Your Taxes

Volunteers and tax filers will be pre-screened for COVID symptoms before entering the site. A deduction is an expense that a taxpayer can subtract from his or her gross income to reduce the total that is subject to income tax. Adjusted gross income equals your gross income minus certain adjustments. The IRS uses the AGI to determine how much income tax you owe. You can contribute some or all of your refund to certain types of accounts or buy U.S. Savings bonds through Treasury Direct.

what to bring when doing taxes

The types of deductions you can take depend a lot on your life situation. It’s likely you won’t need all of the documents listed below for your taxes. Prior year and amended returns will be prepared from June – October. There are tax breaks if you have children, have worked even a part time job during the tax year, if you have college students living at home, or if you are a college student yourself. Building access by VITA volunteers and tax filers will be limited. VITA workstations and waiting areas will be sanitized in between each tax filer appointment.

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Your wireless carrier may charge a fee for data usage. Additional transaction fees, costs, terms and conditions may be associated with the funding and use of your card or account. See your Cardholder or Account Agreement for details. Starting price for simple federal return. Price varies based on complexity. Starting price for state returns will vary by state filed and complexity.

If you end up with a big tax refund or a large tax bill, you probably want to go ahead andadjust your withholdingsso that you’re not taking too much or too little out of your paycheck for taxes. In most cases, folks will either file as single taxpayers or married filing jointly. But there are somerareinstances where you might consider filing separately or another filing status if it applies—so always do the math. Head of Household.This one’s a little tricky.

Please visit ourTax Return Planning Page. We also recommend reviewing our list of stupid and smart things taxpayers do when completing tax returns. If you’re an employee at a company, you’ll receive a Form W-2 wage and tax statement from your employer. If you don’t receive this document by January 31, you may want to check with your employer to ensure there weren’t any mix-ups. Non-employees, which includes independent contractors and freelancers, should receive a Form 1099-MISC from each client they’ve worked with throughout the year. In this case, you’ll want to bring your accountant this form. Form W-2 Wage and Tax Statement -Your W-2 shows how much you earned and how much was withheld for taxes.

Does not provide for reimbursement of any taxes, penalties or interest imposed by taxing authorities. The Community Action Agency’s Volunteer Income Tax Assistance program is currently using a virtual tax preparation model during the COVID-19 emergency. Virtual VITA allows residents to use an online platform to securely upload their tax documents and have their taxes prepared for free by a certified tax preparer. No in-person contact is required, allowing for the health and safety of staff and community members to be maintained.

Available only at participating H&R Block offices. H&R Block does not provide immigration services. An ITIN is an identification number issued by the U.S. government for tax reporting only.

Due to federally declared disaster in 2017 and/or 2018, the IRS will allow affected taxpayers an extended filing date to file and pay for their 2017 taxes. H&R Block does not provide audit, attest or public accounting services and therefore is not registered with the board of accountancy of the State in which the tax professional prepares returns.

If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. We want to hear from you and encourage a lively discussion among our users. Please help us keep our site clean and safe by following our posting guidelines, and avoid disclosing personal or sensitive information such as bank account or phone numbers. These education-related credits can save you quite a bit of money. As with the tuition and fees deduction, Form 1098-T is required to claim either. You can deduct contributions to a traditional IRAor self-employed retirement account.

The government can send you a check or deposit the refund directly into your checking or savings account. If you expect a tax refund, you have several options for how it’s handled. Which receipts you’ll need to provide depends on whether you itemize your deductions or claim the standard deduction. You’ll want to choose whichever produces the bigger write-off, but the only way to know for sure is to add up your itemized deductions and compare that with your standard deduction. For the 2020 tax year, the standard deduction for single taxpayers is $12,400 and for married couples filing jointly, it is $24,800. Use this free quiz to help you decide which tax filing method is right for you.

Income and investment interest forms should be mailed to you by Jan. 31, so keep an eye out for those documents. If you haven’t received your tax statements by the first or second week of February, call the necessary people to be sure you receive your paperwork in plenty of time to get your taxes done. If you choose the fully guided filing experience with TaxSlayer, you will be asked questions about the information on these documents. Then, your answers will automatically be filled in where they belong on your tax return. Otherwise, you may choose to enter the info on your own.

Other miscellaneous income records – This could include award money, gambling winnings, lottery pay-outs, etc. Visit a local IRS Taxpayer Assistance Center. An IRS agent can print out your wage and income transcript for you, but some of these offices are temporarily closed due to the ongoing coronavirus pandemic. Forms 1099 might come from several sources, and replacing one depends on the type of income it reports. Be sure to bring cards for your spouse and dependents as well. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site.