Have you filed your tax returns yet? If you still owe income taxes for 2005, the deadline for filing federal and District tax forms is Tuesday, April 18. So if you are reading this before that date, there is still time…
Where can I still get free tax help?
Throughout the filing season, there are more than 45 locations in DC that offer free tax preparation help. If you have been dragging your feet and need help completing your tax forms, call “211” or go to www.takethemoneydc.org today to get a list of volunteer tax centers that are open after April 15. Of course, you should be prepared to wait in line with all the other people who waited until the last minute to file.
What if I have already missed the deadline?
If you miss the April 18 deadline and need help filing your taxes, call Community Tax Aid at (202)347-4811.
If you do not owe income taxes for 2005 but think you might be due a refund, the April deadline does not apply. The government is patient when it comes to returning money it owes taxpayers, so you have until April 15, 2009 to claim a refund for the 2005 tax year. But why wait—do you really want to give the government a no-interest loan with your hard earned dollars? Probably not, but maybe you are one of thousands of DC residents who fail to claim their refunds each year because you don’t realize that you are owed any money.
Whether you owe taxes or are owed a refund, it’s a good idea to file on time—ideally in February or March. If you owe taxes, it will give you a little more time to come up with the money so you won’t have to pay a penalty and interest on late payments.
How do you know if you’re owed a refund?
If you’re a single filer with no dependents and you earned less than $11,750 last year, or if you’re a parent and you earned less than $35,000, there’s a very good chance that you qualify for an earned income tax credit (EITC), which usually comes back to you as a refund on both your federal and DC tax returns. The amount of your combined federal and DC credit can be as much as $538 if you are a single filer with no dependents, and almost $6,000 if you are a parent with two or more children. The average EITC is about $2,500.
The EITC is a unique tax credit for the working poor. It supplements income and helps to lift about 5 million Americans out of poverty each year. In the District alone, nearly 50,000 residents claim the EITC. But one of every five or six people who qualify for the EITC doesn’t claim it—either because they don’t know about it or can’t or don’t want to file their tax returns.
Even if you don’t qualify for the EITC, you might also be due a refund because you qualify for other credits and deductions or had too much taken out of your paycheck during the year. Many people who aren’t required to file should file to get a refund. The only way to know for sure if you are one of these people is to complete your tax forms. It might be worth the time, and don’t forget you can get free help: call “211” or visit www.takethemoneydc.org to find a free tax service in your neighborhood.
