- Days left

File your taxes free with the help of Walmart, United Way and others

Great news for anyone who makes under $58,000. You'll be able to file your taxes for free, including free tax prep, thanks to a $4 million grant from the Walmart Foundation to United Way Worldwide, One Economy and the National Disability Institute. This is the second year for the free tax prep program, which allows Americans who meet the criteria to get free assistance at community locations and online at Myfreetaxes.com.

According to the Walmart Foundation, last year's program provided more than 650,000 people with tax prep, and helped them save over $950 Million in tax preparation fees, refunds and tax credits.

Walmart's grant this year will allow these three organizations to expand their operations and help more Americans file for the Earned Income Tax Credit (EITC). This is an important tax credit for low income workers, designed to offset the effect of payroll taxes, but it is often forgotten.

"EITC can be a financial boost for working people hit by hard economic times," said Julie Garcia, Director of the IRS Stakeholder Partnerships, Education and Communication division, in a Walmart press release. "One in four eligible taxpayers overlooks the credit and this partnership is helping those who need it most."

According to the Walmart Foundation, taxpayers can receive assistance in one of the following ways:
  • United Way Worldwide will assist Americans who earn less than $49,000 with free tax and EITC filing at 91 community-based tax preparation sites.
  • Tax-payers earning less than $58,000 per year can take advantage of the Myfreetaxes.com national tour. Equipped with One Economy's online tax filing technology and IRS-trained tax professionals, the tour will visit 30 communities across the U.S.
  • The NDI's Real Economic Impact Tour will assist qualifying taxpayers with disabilities who earn $49,000 or less. Funding from the Walmart Foundation allows NDI to expand its disability-inclusive tax assistance programs, including making free tax preparation sites and online tools accessible to disabled filers.
Taking advantage of this help is easy. Just find a location near you, gather your tax forms, and you are good to go.

Just because you're getting your taxes done for free doesn't mean that the individual helping you is any less qualified than those who charge to do your taxes. The individuals working at these locations are IRS trained and take pride in what they do. WalletPop took a look at the VITA program last year to showcase the people who volunteer their time to offer free tax preparation.

Watch more AOL Personal Finance videos on AOL Video


Increase your money and finance knowledge from home

Introduction to Preferred Shares

Learn the difference between preferred and common shares.

View Course »

Intro to Retirement

Get started early planning for your long term future.

View Course »

TurboTax Articles

What Are the Tax Penalties for Smokers?

Starting in 2014, the Individual Shared Responsibility provision of the Affordable Care Act made you responsible for having minimum essential coverage, or MEC, in health insurance. Otherwise, you need to be eligible for a health care exemption, or you could pay a penalty when filing your income tax return. This requirement for minimum essential coverage applies to smokers and nonsmokers alike. If you're not covered by an employer's health plan and are a smoker, you can go to the health care marketplace to find MEC. If you're still unable to comply, you may have a penalty applied.

5 Steps to Navigate the Healthcare Marketplaces

To navigate the Health Insurance Marketplace, you have to know what you want from a health plan. Have your previous plan handy to make comparisons, as well as household and income information. If this is your first health plan, be aware of your needs and know your tax situation. Eligibility depends on the size of your family and combined income from all sources.

What Is Form 8941: Credit for Small Employer Health Insurance Premiums

Small business owners who subsidize the cost of employee health insurance premiums may be able to get some of that money back by claiming the credit for small employer health insurance premiums on their taxes. Some of the eligibility requirements, however, limit the number of people a business can employ and the average annual wages they earn. Qualifying as a small employer can reduce your tax bill by the amount of the credit you report on Form 8941.

What Is Form 8911: Alternative Fuel Vehicle Refueling Property Credit

In light of rising gasoline prices and environmental concerns, consumers have become more receptive to buying cars and trucks that run on types of fuel other than gasoline. The U.S. government introduced a tax incentive to encourage the installation of facilities to store or dispense alternative fuels in 1992. That incentive has evolved into a tax credit that also applies to equipment that recharges electric cars. If you equipped your home or business to accommodate alternative fuel vehicles, you may be able to use Form 8911: Alternative Fuel Vehicle Refueling Property Credit to reduce your federal tax obligation.

What Is Form 8885: Health Coverage Tax Credit

The health coverage tax credit is a program in place for tax years from 2002 to 2013 to help eligible individuals and families by paying a portion of premiums for qualified health insurance programs. Since the legislation authorizing the credit expired in January 2014, tax returns filed in 2014 for the 2013 tax year represent the last time eligible taxpayers can claim the credit.

Add a Comment

*0 / 3000 Character Maximum