Tax Preparation Services & Financial Literacy

Issues: Economic Development, Financial Services

Rep. Hinojosa attends a financial literacy fair honoring students for their achievements in financial education. Rep. Hinojosa has long been a proponent of life-long financial literacy, and co-founded the Financial Literacy Caucus in the U.S. House of Representatives.Rep. Hinojosa attends a financial literacy fair honoring students for their achievements in financial education. Rep. Hinojosa has long been a proponent of life-long financial literacy, and co-founded the Financial Literacy Caucus in the U.S. House of Representatives.
 

Free Tax Return Preparation for You by Volunteers

The IRS Volunteer Income Tax Assistance (VITA) and the Tax Counseling for the Elderly (TCE) Programs offer free tax help for taxpayers who qualify.

VITA
The VITA Program generally offers free tax help to people who make $50,000 or less and need assistance in preparing their own tax returns. IRS-certified volunteers provide free basic income tax return preparation to qualified individuals in local communities. They can inform taxpayers about special tax credits for which they may qualify such as Earned Income Tax Credit, Child Tax Credit, and Credit for the Elderly or the Disabled. VITA sites are generally located at community and neighborhood centers, libraries, schools, shopping malls, and other convenient locations. Most locations also offer free electronic filing.

Find a VITA site near you or call 1-800-906-9887.

TCE
The TCE Program offers free tax help for all with priority assistance to people who are 60 years of age and older, specializing in questions about pensions and retirement issues unique to seniors. IRS-certified volunteers who provide tax counseling are often retired individuals associated with non-profit organizations that receive grants from the IRS.

Find an AARP Tax-Aide, site near you or call 1-888-227-7669 for more information on TCE

Facilitated Self-Assistance
In addition to traditional face-to-face tax preparation, the IRS is launching a self-assistance service at select locations. If individuals have a simple tax return and need a little help or do not have access to a computer, they can visit one of the participating tax preparation sites and an IRS-certified volunteer will guide them through the process.

Find a Facilitated Self-Assistance site near you

Items you need to bring to the VITA/TCE sites to have your tax returns prepared:

  • Proof of identification – Picture ID
  • Social Security Cards for you, your spouse and dependents or a Social Security Number verification letter issued by the Social Security Administration or
  • Individual Taxpayer Identification Number (ITIN) assignment letter for you, your spouse and dependents
  • Proof of foreign status, if applying for an ITIN
  • Birth dates for you, your spouse and dependents on the tax return
  • Wage and earning statement(s) Form W-2, W-2G, 1099-R, 1099-Misc from all employers
  • Interest and dividend statements from banks (Forms 1099)
  • A copy of last year’s federal and state returns if available
  • Proof of bank account routing numbers and account numbers for Direct Deposit, such as a blank check
  • Total paid for daycare provider and the daycare provider's tax identifying number (the provider's Social Security Number or the provider's business Employer Identification Number) if appropriate
  • To file taxes electronically on a married-filing-joint tax return, both spouses must be present to sign the required forms.


It is extremely important that each person use the correct Social Security Number. The most accurate information is usually located on your original Social Security card. If you do not have an SSN for you or a dependent, you should complete Form SS-5, Social Security Number Application. This form should be submitted to the nearest Social Security Administration Office.

If you or your dependent is not eligible to get a Social Security Number, you may need an Individual Taxpayer Identification Number (ITIN).

 

Financial Literacy and Capability Resources

  • MyMoney.gov is the federal government's website that serves as the one-stop shop for federal financial literacy and education programs, grants and other information. MyMoney.gov is available in English and Spanish.
  • 1-888-MyMoney is the federal government's toll-free hotline accessible to the public seeking information about federal financial education materials. Information is available in English and Spanish.
  • Money Matters is a website from the Federal Trade Commission for people dealing with debt; struggling to find a job or keep their home; or trying to create a budget, save, and spend wisely.
  • Consumer Financial Protection Bureau. The CFPB is a new agency whose sole mission is the protection of consumer rights. The CFPB was created by the historic Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The central mission of the Consumer Financial Protection Bureau (CFPB) is to make markets for consumer financial products and services work for Americans — whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products. The website for the CFPB has many resources for consumers--you can file complaints about financial products, which the CFPB will follow up on; you can learn about the best ways to approach student loan debt, and what to do if you have trouble paying your mortgage.
  • Ask CFPB. Additionally, the CFPB recently launched Ask CFPB, a search tool to help you find plain-language answers to your questions about credit cards, mortgages, credit scores, and more.
  • Credit Scores and Credit Reports. Learn about Credit Scores and Credit Reports from the Board of Governors of the Federal Reserve. Your credit history is important to a lot of people: mortgage lenders, banks, utility companies, prospective employers, and more. So it's especially important that you understand your credit report, credit score, and the companies that compile that information, credit bureaus.This site--maintained by the Federal Reserve Board--provides answers to some of the most common, and most important, questions about credit.
  • Financial Literacy Resources Directory. This directory from the Office of the Comptroler of the Currency (OCC) provides information on financial literacy resources, issues and events that are important to bankers, organizations, and consumers of all ages. The directory includes descriptions and contact information for a sampling of organizations that have undertaken financial literacy initiatives as a primary mission, government programs, fact sheets, newsletters, conference materials, publications, and links to Web sites.