Are you looking for help this tax season? If you feel like filing your own taxes is tricky and hiring an accountant is too costly – then AARP Tax Aide might be the right fit for you. If haven’t filed your taxes yet and are above the age of 50 then there is still time to take advantage of Tax Aide– a free service available from the AARP Foundation.
The AARP Foundation Tax-Aide, celebrating 50+ years of service, is the nation’s largest free tax assistance and preparation service. Since its inception, the program has served more than 68 million taxpayers. The tax preparations done by AARP volunteer staff are done well and meet the standards of the IRS.
The AARP has provided updated information for this year's tax preparation season to protect the volunteers and older adults:
• Self-preparation: Tax-Aide provides consumers with access to software to prepare their own taxes, and if needed, a Tax-Aide IRS-certified counselor can coach them through the process by phone or through computer screen-sharing. This service is free for qualifying clients with an Adjusted Gross Income of less than $72,000 a year. For additional qualification details visit: https://taxaide.aarpfoundation.org/online-self-filing-software or click here to contact a Tax-Aide volunteer to discuss your situation and see what services are available to you.
• In-Person: In Tax-Aide's traditional in-person service, taxes are prepared and filed by IRS-certified tax counselors — with strict physical distancing measures in place. The number of locations is limited this season, and public health precautions may delay openings or limit the number of appointments available.
• Low-Contact: Taxpayers interact with IRS-certified Tax-Aide volunteers in one or two short, in-person meetings to exchange documents.
• Contact-Free: Taxpayers interact with Tax-Aide's IRS-certified tax counselors online or by phone and exchange documents electronically and securely.
What is Tax Aide?
Tax Aide is the largest volunteer-run tax assistance and preparation program with 35,000 volunteers at more than 5,000 sites providing millions of people with free tax help. Tax-Aide volunteers are trained and IRS-certified each year to ensure their knowledge of revisions to the U.S. tax code, and can provide basic income tax return preparation with electronic filing to qualified individuals.
Am I Eligible for Tax Aide?
Good news! This service is available to all low and moderate-income taxpayers of all ages, focusing on those 50 and older as the primary recipients. You do not need to be an AARP member to use this free service.
How can Tax Aide Prepare Tax Returns?
AARP Tax Aide can prepare most tax returns for eligible adults with the following forms, requirements, and information:
• Wages, interest, dividends, capital gains/losses, unemployment compensation, pensions and other retirement income, Social Security benefits.
• Self-employment income, with limits.
• Most income reported on Form 1099-MISC or Form 1099-NEC.
• Schedule K-1 that includes only interest, dividends, capital gains/losses or royalties.
• Charitable cash contributions
• Qualified Business Income deduction.
• Economic Impact Payments (aka Stimulus Payments)
• Coronavirus-related distributions from retirement plans
•Itemized deductions, including noncash contributions to charity that total no more than $5,000.
• Cancellation of nonbusiness credit card debt.
• IRA contributions — deductible or not.
• Most credits, such as earned income tax credit, education credits, child/additional child credit and credit for other dependents, child/dependent care credit, premium tax credit, simplified method foreign tax credit, and retirement savings credit.
• Repayment of first-time homebuyer credit.
• Estimated tax payments.
• Injured spouse allocation, depending on state.
• Health Savings Accounts (HSA).
• Amendments to filed returns.
• Prior three tax years’ returns.
How do I Access AARP Tax Aide?
To speak with a Tax Aide volunteer and find a location near you, just click here and search for your zip code.
After you enter your zip code you will be able to filter by radius and the type of service (in-person, virtual or drop-off). After you find a number of available locations you can click on the site without having to leave aarp.org.
Next Steps
If you are still not sure, keep in mind that the AARP Foundation Tax-Aide volunteers helped 2.5 million people annually navigate complicated tax codes, ensure proper credits and deductions, and file their federal and state tax returns. Taxpayers who used AARP Foundation Tax-Aide received $1.37 billion in income tax refunds and more than $222 million in Earned Income Tax Credits (EITCs).
Tax season can be stressful for anyone. Take some of that stress away by using the free tax prep and assistance service from Tax Aide. Get your tax documents organized and make your appointment today.
Click here or simply go to website of the trusted aarp.org to learn more about tax benefits for caregivers.
