We Can Answer Your Tax Questions
By Betty Lin-Fisher
Beacon Journal business writer
Published on Monday, Feb 22, 2010
Tax season is upon us. Today's special Beacon Journal tax coverage is a yearly report we provide to our readers.
It is designed to provide information to help you do your taxes — whether you do them yourself or through a preparer. On Monday's Business pages, we'll continue the coverage with more tax stories and frequently asked questions and answers.
Another very popular service of the Beacon Journal is our annual series of Tax Call-Ins, which we sponsor and staff with area certified public accountants and staff accountants. They offer to lend their expertise to callers over the telephone.
Over a three-day period, we're scheduled to have 30 volunteers staffing the phones. The times and dates for the free call-in will be:
- Monday: 6 to 8 p.m.
- Wednesday: 6 to 8 p.m.
- Saturday: 10 a.m. to 2 p.m.
Call 330-996-3644. If you get a recording during the call-in times, it means that all of the volunteers are busy taking another call and you should hang up and try again.
The call-ins are meant to be a resource for questions that can be answered relatively quickly by an expert.
Cindy Mitchell, a CPA and senior tax manager for Akron-firm Bober Markey Fedorovich, who has participated in previous call-ins, said they are a good service for readers.
''I really would recommend them calling. We're all there, we're all accountants and have done taxes for years'' so the likelihood they've come across the issue you're calling about is high, Mitchell said. ''Why slave over your computer or the Internet or Google for hours when you can pick up the phone and get an answer in five minutes?''
If you miss the call-ins or need additional help, there are other resources. We're publishing a list of free tax-preparation services for income-eligible taxpayers in the A section of the paper today, along with a story about refund-anticipation loans.
The IRS has telephone assistance for individuals at 800-829-1040 from 7 a.m. to 10 p.m. Monday through Friday. IRS spokesman Luis Garcia said taxpayers can talk to a live individual by calling that number. There are a lot of prompts to answer first, but that's to ensure you get to the right person who can answer your question, he said. That number also will help taxpayers find IRS Volunteer Income Tax Assistance Program (VITA) sites that can help people who earn less than $49,000. The IRS' Web site http://www.irs.gov also has information on assistance.
Also, the local IRS offices in Akron and Canton are available if taxpayers have specific questions. For taxpayers who make less than $49,000 a year, the employees will prepare the return and file for free. It's advisable to call ahead for an appointment if you want to go in, but you can also walk in and wait.
The Akron office is in the John F. Seiberling Federal Building at 2 S. Main St. and is open from 8:30 a.m. to 4:30 p.m. Monday through Friday. The number is 330-253-7013.
The Canton office is at 201 Cleveland Ave. SW and is open from 8:30 a.m. to 4:30 p.m. Monday through Friday and closed for lunch from 1 to 2 p.m. The number is 330-588-4417.
AARP Tax-Aide is the nation's largest free, volunteer-run tax assistance and preparation service and you can find the closest site by going to http://www.aarp.org/money/taxaide or by calling 888-227-7669.
If you're looking for a CPA to do your taxes, you can use the database at the Ohio Society of CPAs' Web site, http://www.ohioscpa.com, or by calling 888-959-1212.
Have someone in your family who is serving in the military? The society also is providing free tax preparation to Ohio military families. You can call that same number or send an e-mail to cpanswers@ohio-cpa.com to find a volunteer in your area.
Finally, if you have questions for the Ohio Department of Taxation, you can go to http://www.tax.ohio.gov or call 800-282-1780 for individuals.
Local advice
With the recession and dollar-stretching on everyone's mind these days, I talked to two area CPAs for some tips on how people can get the most out of their income tax returns.
Not surprisingly, both Mitchell and Akron CPA Steven Wagner said it's best to consult a tax practitioner to do your taxes, but they both acknowledged that a lot of taxpayers opt to do taxes themselves using tax preparation software.
Wagner said the tax preparation software can sometimes only be as good as the person answering the interview questions, which can mean potential credits and deductions are missed.
Both Wagner and Mitchell said it's important for taxpayers to be aware of the newest tax credits available for the 2009 tax year (we've highlighted a lot of them in today's section).
And make sure you get all of your receipts and paperwork in order, said Wagner, a sole practitioner who owns Wagner & Co. in Akron.
''Gather all of the information together at once. At least have some knowledge that these tax credits exist for education, for working, for improving your home, if you bought a car in 2009. Understand these things exist. The IRS Web site [http://www.irs.gov] is wonderful,'' Wagner said.
It's also important to dispel some myths. After the Cash for Clunkers voucher program last summer, there were a lot false rumors that the incentives would be taxable.
The Cash for Clunkers and Economic Recovery Payments for retirees were not taxable and should not be included in your income for the tax year, Mitchell said.
Also, a new law allows donations made from Jan. 11 through March 1 of this year for the Haiti relief effort to be claimed on your 2009 taxes, if you itemize your taxes.
Mitchell said in most cases, it's better to claim the deduction for 2009.
''Your refund will be higher now and theoretically you can earn money on that extra money that you got as a tax deduction as opposed to waiting the whole year,'' she said. Suppose you're in a situation where you need the deduction next year. Perhaps you were unemployed in 2009, didn't have a lot of income and you now have a job and will have more income to report in 2010. Then you might consider waiting, she said.
The tax deduction is available for donations through March 1, so Wagner said you still have an opportunity to donate more and deduct it on 2009 taxes.
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Karyn Sullivan
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330.762.9785
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