The first day the IRS will begin processing individual tax returns is January 31st. In our special "Smart Money" report, WFFT's Audra Streetman has some tips to help make the most out of your filing this year.
With tax season being right around the corner and now that most W-2 forms have arrived in the mail, you might be in a rush to file your taxes to get a refund but before you do, it is always a good idea to do some research.
"The best way to take advantage of tax deductions varies depending on your marital status and whether or not you have kids."
So how do you decide if you need to pay for a tax service?
The IRS website features a service that's free for taxpayers with an adjusted gross income below $58 thousand dollars. United Way of Allen County and Volunteer Center RSVP also offer a free tax preparation program.
This service will be available from February 1st through April 12th for residents in Allen County. Any family of individual earning less than $52 thousand dollars annually qualifies for the free service.
Credits can help a family get up to a $5,000 dollar refund. If you do not qualify for those services you can always purchase tax software or hire a tax preparer.
The Better Business Bureau is warning residents about several scams this tax season. Some scammers acting as the IRS will try and contact you via email in an effort to steal your identity.
A new change for 2014, the Indiana Department of Revenue has implemented a new program that will better protect taxpayer's identities when they file their returns.
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