EITC Tips and Resources
Internal Revenue Service (VITA)
www.irs.gov (800) 906-9887
Tax prep is free
Don’t hire someone to do your taxes. That could cost you time and
money. Go to a local free tax preparation site near you. To locate a
site, call the Ohio Benefit Bank at (800) 648-1176.
Bank accounts = faster refunds
If you already have a bank account (checking or savings) you can
receive your refund quicker through direct deposit. If you don’t yet
have a bank account, opening one is simple! Just go to a local bank or
credit union and say you’d like to open a savings or checking account.
What you need to bring
Before you have your tax return prepared, be sure to gather as many of these documents and items as you have:
- Proof of identification
- Social Security cards and birth dates for you, your spouse and any dependents listed on the tax return
- Current year’s tax package
- Wage and earning statements
- Interest and dividend statements
- Copy of last year’s federal and state income tax returns
- Bank routing and account numbers for direct deposit
- Total amount paid for day care and the day care provider’s tax ID number
- Your spouse (if filing jointly) so that he or she can sign the required forms.
Avoid refund anticipation loans
If you do hire a company to prepare your tax return, you may be
asked to take out a Refund Anticipation Loan (RAL). These are short term
loans issued by the tax preparer based on their estimate of how much
money you will be receiving on your tax refund. Beware! Although you may
get a check that day, you will likely end up handing over much of your
refund to the tax preparer in the form of sky high interest rates. If
you need your refund quickly, you should open a checking or savings
account (if you don’t already have one) and tell your tax preparer that
you would like to have your refund deposited directly into your account.