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A Publication of United Way of Salt Lake |
March 28, 2008
United Way of Salt Lake believes everyone should be financially stable. As part of our effort to improve financial stability, we encourage individuals to utilize free tax help and use tax refunds and economic stimulus payments wisely.
Many Utahns are eligible for the stimulus payments - the IRS says eligibility for and the amount of stimulus act payments will vary according income and family situations. Nonetheless, no stimulus payments will be given to those who don’t file a 2007 tax return, so it is essential that we spread the word regarding the importance of filing.
To help ease the burden of preparing tax returns, many elderly and low income individuals and families may qualify for free tax assistance. Visit a Volunteer Income Tax Assistance (VITA) site for help. To find a VITA site, dial 2-1-1 or visit www.utahtaxhelp.org.
What’s more, people filing tax returns solely to receive their economic stimulus payments can join the Free File: Economic Stimulus Payment program, which provides free tax preparation software and electronic filing. There is no charge for this program. Filers should be sure to choose direct deposit when filing a tax return, even if the filer isn’t due a regular tax refund. That way, the stimulus payment will go right to the filer’s bank account. Otherwise, the check will be in the mail.
The Tax Counseling for the Elderly (TCE) Program provides free tax help to people age 60 and older. As part of the IRS-sponsored TCE Program, AARP offers the Tax-Aide counseling program at more than 7,000 sites nationwide during the filing season. To find an AARP Tax Aide site call 1-888-227-7669 or visit the AARP Web site.
The IRS has also created an online calculator that will allow users to answer a few questions and get a quick estimate of their stimulus payment amount.
IMPACT MATTERS
Get Free Tax Help and Use Your Stimulus Payment Wisely
United Way of Salt Lake believes everyone should be financially stable. As part of our effort to improve financial stability, we encourage individuals to utilize free tax help and use tax refunds and economic stimulus payments wisely.
Many Utahns are eligible for the stimulus payments - the IRS says eligibility for and the amount of stimulus act payments will vary according income and family situations. Nonetheless, no stimulus payments will be given to those who don’t file a 2007 tax return, so it is essential that we spread the word regarding the importance of filing.
To help ease the burden of preparing tax returns, many elderly and low income individuals and families may qualify for free tax assistance. Visit a Volunteer Income Tax Assistance (VITA) site for help. To find a VITA site, dial 2-1-1 or visit www.utahtaxhelp.org.
What’s more, people filing tax returns solely to receive their economic stimulus payments can join the Free File: Economic Stimulus Payment program, which provides free tax preparation software and electronic filing. There is no charge for this program. Filers should be sure to choose direct deposit when filing a tax return, even if the filer isn’t due a regular tax refund. That way, the stimulus payment will go right to the filer’s bank account. Otherwise, the check will be in the mail.
The Tax Counseling for the Elderly (TCE) Program provides free tax help to people age 60 and older. As part of the IRS-sponsored TCE Program, AARP offers the Tax-Aide counseling program at more than 7,000 sites nationwide during the filing season. To find an AARP Tax Aide site call 1-888-227-7669 or visit the AARP Web site.
The IRS has also created an online calculator that will allow users to answer a few questions and get a quick estimate of their stimulus payment amount.
What to Do With the Money?
Naturally, there’s a large segment of the economy that hopes people will spend their stimulus payment checks, buying goods or services. At United Way of Salt Lake, we believe there are better, wiser uses of the money. We hope you’ll join our side and encourage people to use their stimulus checks to:- pay down debt
- put some money in an emergency fund
- add to a retirement fund
- save toward the down payment on a home
- open or add to an education fund
Archive Copyright 2007 United Way of Salt Lake, 175 S. West Temple,
Suite 30, Salt Lake City, UT 84101 (801) 736-8929