March 20, 2008

Weitzman Tells Taxpayers How To Receive Free Tax Help, Qualify For
Economic Stimulus Payments And Determine If They Qualify For Tax Credits

Nassau County Comptroller Howard Weitzman would like to make taxpayers aware of several programs and benefits that can assist those filing their income tax this season. Volunteer Income Tax Assistance (VITA), a free IRS-sponsored program, can help low and medium income Nassau County residents, especially senior citizens, to have their taxes prepared. Tax payers should also be reminded that in order to qualify for the economic stimulus payments from the federal government, they must file a federal tax return. Lastly, eligible working families who earn less than $39,783 can qualify for the Earned Income Tax Credit (EITC), a special federal and state refundable tax benefit that can put money back in your pockets.

• Volunteer Income Tax Assistance (VITA)-VITA is a free IRS-sponsored program that helps low and medium income people, with an emphasis on senior citizens, have their taxes prepared and electronically filed at no cost.

Arthur Schuler of Merrick, a VITA volunteer for 19 years, says, “This program is primarily designed for low income seniors but we handle anyone who comes to the site. This year it is important for everyone to file their taxes so they can receive their share of the federal stimulus package. We are all volunteers but we receive a great reward when we see people leave as if they had a piano lifted off their backs.”

“VITA volunteers provide a wonderful service in helping untangle the process of filing income tax return forms for seniors and others in need,” said Weitzman.

• Economic Stimulus Payment-Comptroller Weitzman is also reminding all Nassau County residents, and especially senior citizens, that they must file a federal tax return in order to qualify for economic stimulus payments from the federal government. These payments can range up to $600 for single filers and up to $1,200 for joint filers. Payments are expected to begin going out in May for taxpayers who have a 2007 income of $3,000 or more and who have filed their 2007 federal income tax returns. The actual amounts depend on the information contained on your tax return.

Some seniors who do not normally file federal returns because their income comes primarily from nontaxable Social Security or other benefits need to be aware that they must file a federal return even if they don’t owe taxes, so that they will be eligible for the economic stimulus payments. Check with the IRS for specific information online at http://www.irs.gov/irs/article/0,,id=177937,00.html or by calling 1-800-829-1040.

Middle and low-income senior citizen taxpayers throughout Nassau County can also receive free assistance with their 2007 income tax forms through the AARP/IRS Tax Counseling for the Elderly Program. For information on sites offering this service, call the Nassau County Department of Senior Citizen Affairs HELP-LINE at (516) 227-8900

The Earned Income Tax Credit -The federal and state EITC for low to moderate working people and families is intended to reduce the tax burden on workers, to supplement wages, and to make work more attractive than welfare. Workers who qualify for the EITC and file federal and state tax returns can get back some or all of the income tax that was deducted from their salaries during the year. Even workers whose earnings are too small to have paid taxes could be in line for a EITC payment. While the amounts will vary depending on your family’s earned income and the number of qualifying children in your household, you may be eligible for a tax credit.

“There are thousands of residents in Nassau County who are eligible for the Earned Income Tax Credit and who don’t know about it or fail to file the forms needed to claim it,” Weitzman said.

Below are examples of what a working family who earns less than $39,783 is eligible to receive:

• a family with two or more qualifying children may be eligible for up to $6,130.
• a family with one qualifying child may be eligible for up to $3,708.
• a family with no qualifying children may be eligible for up to $556.