SHERROD BROWN - TAX TIPS FOR OHIO FAMILIES

SHERROD BROWN NEWSLETTER - MARCH 1, 2013

Tax Tips for Ohio Families

With April 15th just around the corner, millions of Ohioans are beginning to file their federal income taxes. Before you get to work on your returns, Sen. Sherrod Brown (D-OH) has a few tips on the resources available to help Ohio tax filers. Get forms and booklets. All IRS forms and instructions, along with FAQs and Tax Tips, are available through the IRS website. In addition, the most common forms are available at most local libraries, post offices, and military installations. If you need a paper copy of any form or booklet, you can also place an order with the IRS by calling 1-800-TAX-FORM (800-829-3676). Get help filing your taxes. If you earn $51,000 per year or less, you could be eligible for free tax assistance through the Volunteer Income Tax Assistance (VITA) program. VITA connects you with an IRS-certified tax assistant in your community to help you file your return and make sure that you take advantage of the many tax credits available to help working families. If you are 60 or older, you could also be eligible for tax assistance through the Tax Counseling for the Elderly (TCE) Program, which offers free assistance to seniors. TCE assistants are IRS-certified and specialize in pension and retirement issues to better assist senior taxpayers. To locate the nearest VITA or TCE site, click here. File online for free. If your adjusted gross income (AGI) was less than $57,000, you’re eligible to use brand-name tax software at no cost through the IRS Free File online system. All taxpayers are eligible to file their taxes for free through the IRS Free File Fillable Forms. To file online, click here. Remember credits for working individuals and families. Low- and middle-income working families and individuals can keep more of the money they earned throughout the year by claiming the Earned Income Tax Credit (EITC), but many Ohioans don’t take advantage of the credit because they don’t know it exists or don’t think they’re eligible. Last year, one in five people who were eligible for the EITC did not claim it, costing them hundreds or thousands of dollars. Eligibility is determined by income and ranges from $14,340 to $51,567, depending on your family size. If you qualify, you could receive a tax deduction or refund. To find out if you qualify, click here. Families with children can also claim the Child Tax Credit (CTC), which can help families save up to $1,000 per dependent child under age 17. To find out if you qualify, click here. Get help with college costs. On January 1, 2013, Congress extended a tax credit to help make higher education affordable for students and parents. The American Opportunity Tax Credit (AOTC) allows low- and middle-income students or parents to deduct up to $2,500 from their tax bill or to receive a refund of to $1,000 per student. There has been a delay in processing for AOTC claims for the 2013 tax season, but taxpayers can now begin filing forms that include the AOTC. For more information, click here. Get credits for child and dependent care. Many parents who work or are looking for work must pay for child care. If you paid someone for care of a child under 13 or for care of a dependent this year, you could qualify for a tax credit. For more information, click here. Get your tax return faster. While tax refunds can be distributed as a check, you will receive your refund more quickly if you have your refund deposited directly to your bank account. Direct deposit keeps your refund safe and will ensure that you claim your refund as quickly as possible. You can also choose to save your refund for yourself or a family member by purchasing up to $5,000 in Savings Bonds. Savings Bonds are a safe way to save for future retirement, education costs, or special events without needing a bank account. For more information on direct deposit or putting your refund into a Savings Bond, click here.

SHERROD BROWN ON CLAIMING TAX REFUNDS AND PROTECTING TAX CUTS

DECEMBER 10, 2012 Newsletter from Sherrod Brown's office:

Claiming Tax Refunds, Protecting Tax Cuts

Good communication is important, and poor communication can be costly. Unfortunately, miscommunication between Washington and Ohio could cost families in Wilmington and Orville up to $3,700 next year. As the New Year quickly approaches, it’s critical that Ohio families are aware of the unclaimed tax refunds that may be owed to them by the Internal Revenue Service (IRS). Often times, inaccurate addresses have caused these funds to be returned by the U.S. Postal Service. And in fact, last year, more than 2,000 Ohioans were eligible to claim tax refunds. In 2011, undelivered refund checks were worth more than $1,500 on average. Ohioans have always worked hard and played by the rules. But every year, millions of Americans don’t receive their tax returns because of postal errors. Taxpayers deserve to easily receive the money that the government owes them, and shouldn’t lose money just because their checks got lost in the mail. Fortunately, claiming a tax refund is an easy process if you are eligible. According to the IRS, if a refund check is returned to the IRS as undelivered, taxpayers can generally update their addresses with the “Where’s My Refund?” tool on IRS.gov. The Tool also enables taxpayers to check the status of their refunds. A taxpayer must submit his or her Social Security number, filing status, and amount of refund shown on their 2011 return. The tool will provide the status of their refund and, in some cases, instructions on how to resolve delivery problems. Ohio taxpayers checking on a refund over the phone will receive instructions on how to update their addresses. Taxpayers can access a telephone version of “Where’s My Refund?” by calling 1-800-829-1954. They can also go to the Where’s My Refund? online tool to check the status of their refund by clicking here. Ohioans can also take two simple steps to avoid the risk that their refund could get lost in the mail. They can start by signing up to have their tax returns directly deposited to their bank accounts, eliminating the potential for postal errors. Next, they can file their taxes electronically. In addition to reducing the potential for miscommunication, e-filing reduces errors on tax returns and speeds up the refund process. But while ensuring Ohio families receive the refunds they are owed is important, it’s also crucial that we fight to guarantee middle class families across the country don’t see their taxes rise altogether. Right now, taxes will automatically rise for all Americans on January 1 unless Congress acts. Both the President and I campaigned on maintaining tax rates for 99 percent of Ohio families, and on November 6th, you strongly supported this position. But, more than a month later, some conservative politicians in Washington still haven’t gotten the message. They are still protecting the wealthiest one percent, at the expense of the middle class. In July, the Senate passed the Middle Class Tax Cut Act, which would prevent 99 percent of Ohio families – and all Americans making less than $250,000 per year – from paying higher taxes. Under the bill, the median income Ohio households would save an average of $2,200 on their taxes next year. Leaders in the House of Representatives have failed to schedule a vote on the bill – in part, because it asks the wealthiest two percent of American households to pay the same tax rates they paid during the Clinton years, when our economy added 22 million jobs. It’s time for the House of Representatives to stop holding hostage middle class tax cuts and pass the bill. It’s our duty to ensure that taxes will not go up for the millions of Ohioans who wake up early, send their children off to school, keep our assembly lines productive, tend to our vast agricultural areas, and stand up behind a counter serving customers for eight hours or more each day. Let’s move forward with our economic recovery and ensure that Ohioans have the resources they need to support their families. By accessing unclaimed tax credits, and providing tax cuts that bolster middle class families, we can continue to make our country stronger. Sincerely, Sherrod Brown U.S. Senator