PHOENIX - - The Volunteer Income Tax Assistance (VITA) program, AARP Foundation Tax-Aide Program, Tax Counseling for the Elderly (TCE) and the Internal Revenue Service are offering free tax preparation to New Mexico residents for both federal and state tax returns to be electronically filed.
Free tax help is available for those who have low to moderate income ($54,000 or less); seniors; the disabled or those who have English as a second language. Local volunteers have been certified through either the VITA or TCE programs to prepare basic tax returns, provide information on credits, deductions and allowable expenses that taxpayers may be eligible for and electronically file both federal and state tax returns at no charge. These sites are not able to provide help with business tax returns or complex individual income tax returns. Free tax help sites are conveniently located in community and neighborhood centers, libraries, schools, shopping malls and other near-by locations.
An important item community tax volunteers will be checking to see if area residents are eligible for the Earned Income Tax Credit or EITC. The EITC is for New Mexicans who work but don't make a lot of money. In 2015, if you made $53,505 or less, you may qualify for this refundable credit. Refundable means even if you didn't have any federal income tax withheld on wages earned, you could still get a refund. The EITC could be worth as much as $6,269 for a married couple with three or more children. So, don't guess, find out if you qualify for the Earned Income Tax Credit.
New Mexicans need to bring with them the following items when seeking free tax help: photo identification for themselves (and their spouses); Social Security Numbers (SSN's) or Individual Tax Identification Numbers (ITIN's) for each person listed on the tax return; all wage and earnings statements (Forms W-2); interest, dividend or miscellaneous income and/or mortgage interest paid statements (Forms 1099 or 1098); if applicable, the Form 1095-A, Health Insurance Marketplace Statement; proof of health insurance; amounts paid for day care and the day care provider's identifying number (SSN or EIN); a copy of last year's tax return (if you have it) and any other information concerning income and expenses for 2015. If filing jointly, both spouses must be present to sign the required forms.
Consider using direct deposit if you are getting a tax refund. With direct deposit, the IRS could issue your federal tax refund in 21 days or less. You will need to bring bank account and routing identification numbers for direct deposit.
To find the nearest VITA or TCE free tax help site nearest you, go to http://irs.treasury.gov/freetaxprep/ or call 800-906-9887. For other tax help or information, visit IRS.gov.