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Free Tax Preparation
Southern Bancorp and Southern Bancorp Community Partners, in partnership with the IRS, are excited to offer free tax filing services through our IRS-sponsored Volunteer Income Tax Assistance (VITA) sites to income-eligible individuals and families. The program offers free tax help to people who make $53,000 or less and need assistance in preparing their own tax returns. Tax season starts January 20, 2014. Contact us today at one of our many locations listed below to learn more.*
Do You Qualify for an Earned Income Tax Credit?
Last tax season we helped more than 2,000 tax payers filed their taxes at our VITA sites, and many were eligible for different tax credits. Those who qualified received a combined total of over $2 million in the Earned Income Tax Credit (EITC) alone. You are eligible for an EITC if:
You worked full- or part-time in 2014, you are between the ages of 25 and 65, and your Adjusted Gross Income (AGI – your income minus qualified deductions) falls within one of the categories below:
- $46,997 ($52,427 married filing jointly) with three or more qualifying children
- $43,756 ($49,186 married filing jointly) with two qualifying children
- $38,511 ($43,941 married filing jointly) with one qualifying child
- $14,590 ($20,020 married filing jointly) with no qualifying children
Calculate your AGI here.
Tax Year 2014 maximum credit:
- $6,143 with three or more qualifying children
- $5,460 with two qualifying children
- $3,605 with one qualifying child
- $496 with no qualifying children
Examples of Income that IS Earned Income:
Earned income includes all the taxable income and wages you get from working. There are two ways to get earned income: You work for someone who pays you or You work in a business you own or run.
Taxable earned income includes:
- Wages, salaries, tips, and other taxable employee pay;
- Union strike benefits;
- Long-term disability benefits received prior to minimum retirement age;
- Net earnings from self-employment if you own or operate a business, OR you are a minister or member of a religious order;
- Gross income received as a statutory employee
Examples of Income that is NOT Earned Income:
- Pay received for work while an inmate in a penal institution
- Interest and dividends
- Retirement Income
- Social security
- Unemployment benefits
- Child support.
Do You Qualify for a Child Tax Credit?
You may also qualify for a nonrefundable Child Tax Credit of up to $1,000 per child who:
- Is under age 17 at the end of the tax year.
- Is a United States citizen, national, or residence.
- Is claimed as your dependent.
- Is your son or daughter, adopted child, stepchild, eligible foster child, or a descendant of any of them, or is under your care as your own child if they are a brother, sister, stepbrother, stepsister, or a descendant of any of them (for example, your niece or nephew).
- Did not provide over half of his or her own support.
- Lived with the taxpayer for more than half of the tax year.
Education Credit: http://www.irs.gov/uac/Tax-Benefits-for-Education:-Information-Center
Job Search Expenses: http://www.irs.gov/uac/Job-Search-Expenses-Can-be-Tax-Deductible
|Southern Bancorp VITA Sites and Phone Numbers|
Most locations are open Tuesday-Thursday from 10am to 5pm. Call your nearest location for details.
601 Main Street
Call Joanne Crutchfield at 870.246.5811
120 S. Second St.
Call: Kanecha Echols at 870.780.1147
2421 North West Avenue
Katrina Ponder at 870.875.6012
208 Ash Street
Call Brittany Speer at 501.337.4944
502 Cherry Street
Call Vida Fielder at 870.816.1126 or 870.816.1151
875 South State Street
Call Sheila Ramsey at 662.624.5776
108 North Main Street
Call Kayla Fleming at 662.745.6604
215 South Broadway
Call Ruby Johnson at 662.334.1898
117 West Floyce St.
Call: Neeley Vance at 662.756.4343
905 North Broadway
Call Edna Bland at 662.398.5115
362 Hwy 463 N.
Call: Debbie Robinson at 870.483.6333
By appointment only.
507 Highway 82 East
Call Dale DeLoach at 662.887.9520
*If you don’t live in or near one of these areas listed above, please visit the IRS website to find a VITA site near you or call 1.800.829.1040.