Tax Time Grants

Nothing sends fear through the hearts of men than the words "You are being Audited by the IRS." But relax. Less than one percent of tax returns are audited. To put your mind at ease, it is best to be as truthful as possible. In order to better serve you, the IRS has improved their telephone answering service accuracy rating to a resounding 91%! An outside sources hired to evaluate customer satisfaction found that 94% of the callers were satisfied with the IRS service. In 2005, the toll-free hotline received 59,098,251 calls. According to headquarters, it is best to call later in the week and in the evening to have shorter wait times. You can call the IRS Tax Help Line for Individuals at 800-829-1040 to get answers to your federal tax questions.

If you decide to have someone else prepare your return, make sure you go with a reputable person. Last year close to 200 investigations were begun on suspected abusive return preparers. You are responsible for the accuracy of your returns. Some tips on choosing a tax preparer include:

• Avoid return preparers who claim they can obtain larger refunds than others.
• Avoid preparers who base their fee on a percentage of the amount of the refund.
• Make sure the tax professional signs your return and provides copies for you.
• Consider whether this individual or firm will be around to answer question about your tax return after your return has been filed (could be after three years).
• Never sign a blank tax form.

The IRS Will Send 3.5 Million Families a Check for Up To $4,300, If They Only Ask*

It's not really a grant, but it looks like a grant, it walks like a grant and it even smells like a grant. They are called tax credits. It's extra money the IRS will give you that's better than a refund because they will give it to you even if you don't pay any taxes. You just have to have some income and the less income you have the bigger the check you get. You can make up to $35,458 and still be eligible.

Free Publications

IRS Publication 596, Earned Income Tax Credit

Call: 1-800-829-3676

Download: http://www.irs.gov/pub/irs-pdf/p596.pdf

* http://www.acorn.org/fileadmin/ACORN_Reports/National_EITC_Report_-_Final_version_01.pdf

* http://www.robinhood.org/programs/initiative_details.cfm?initiativeId=5

* http://en.wikipedia.org/wiki/Earned_Income_Tax_Credit