To locate the Volunteer Income Tax Assistance Program (VITA) nearest you call 1-800-906-9887.
The Kentucky Department of Revenue has again partnered with the IRS to provide free tax preparation for taxpayers who have a low to moderate income (generally, $53,000 and below) who cannot prepare their own tax returns for tax year 2014.
Note: The Kentucky Department of Revenue will begin scheduling appointments January 20, 2015 and filing assistance will begin February 10, 2015.
WHAT TO BRING
Important: If you purchased health insurance through the Marketplace, established by the Affordable Care Act, then you must bring one of the following forms with you in order to have your taxes prepared:
Forms 1095-A, B or C, Affordable Health Care Statements
Other Necessary Information:
Proof of identification (photo ID)
Social Security cards for you, your spouse and dependents or a Social Security number verification letter issued by the Social Security Administration
Birth dates for you, your spouse and dependents on the tax return
Wage and earning statements (Form W-2, W-2G, 1099-R,1099-Misc) from all employers
Interest and dividend statements from banks (Forms 1099)
Form 1098 to verify any home mortgage interest claimed
Form 1098T if claiming tuition paid
A copy of last year’s federal and state returns, if available
Proof of bank account routing and account numbers for direct deposit such as a blank check
To file taxes electronically on a married-filing-joint tax return, both spouses must be present to sign the required forms
Total paid for daycare provider and the daycare provider's tax identifying number such as their Social Security number or business Employer Identification Number
The thresholds for tax year 2014 earned income tax credit are shown below.
Earned income and adjusted gross income must each be less than:
1. $46,997 ($52,427 Married Filing Jointly) with three or more qualifying children
2. $43,756 ($49,186 Married Filing Jointly) with two qualifying children
3. $38,511 ($43,941 Married Filing Jointly) with one qualifying child
4. $14,590 ($20,020 Married Filing Jointly) with no qualifying child
The maximum earned income tax credit for 2014:
1. $6,143 with three or more qualifying children
2. $5,460 with two qualifying children
3. $3,305 with one qualifying child
4. $496 with no qualifying child
In partnership, using IRS materials, we are prepared to provide the following services:
• Form 1040EZ, 1040A, 1040
• Schedules A, B, D, EIC, SE
• Form 1040-V
• Form 1040-ES
• Form 2441 (child and dependent care credit)
• Form 5329 (part 1)
• Form 5405
• Form 8863 (education credits)
• Form 8880 (credit for qualified retirement savings contributions)
• Form 8812 (additional child tax credit)
• Form 8888 (direct deposit)
• Form 8889 (health savings accounts)
• Schedule C-EZ
• Schedule C (limited)
Unable to Prepare:
• Schedule C with losses
• Complicated & advanced Schedule D (capital gains and losses)
• Schedule E (rental income and loss (will prepare for military only))
• Schedule F
• Form SS-5 (request for Social Security number)
• Form 2106 (employee business expenses)
• Form 3903 (moving)
• Form 8606 (non-deductible IRA)
• Form 8615 (minor’s investment income)
• Form SS-8 (determination of work status for purposes of federal employment taxes and income tax withholding)
Additional Important Tax Law Changes for 2014
The amount a taxpayer can deduct for each exemption increased to $3,950 for 2014.
Retirement Savings Contribution Credit Income Limits Increased
In order to claim this credit, your Modified Adjusted Gross Income (MAGI) must not be more than $30,000 ($60,000 if Married Filing Jointly; $45,000 if Head of Household).
Taxpayers whose investment income is more than $3,350 cannot claim the Earned Income Credit (EIC).
Adoption Credit or Exclusion
The maximum adoption credit or exclusion for employer-provided adoption benefits has increased to $13,190 for 2014. To claim either the credit or exclusion, the taxpayer’s MAGI must be less than $237,880. This credit is outside the scope of the VITA Program.