Return to the "POINTER VIEW"
Feb.
2, 2001
Free tax assistance from SJA can save you
money
Compiled by Valerie VanKleeck
Assistant Editor
Dont spend a lot of money on commercial tax preparation fees before you check out the free services offered at the West Point Tax Center.
Starting Monday, authorized personnel can make appointments to have their taxes prepared and filed for free by one of the trained preparers in the legal assistance tax office located in building 606. Appointments can be made by calling 938-6040.The center is open from 8 a.m. to noon and 1 to 4 p.m. weekdays. Weekend hours will be added at a later date.
Active-duty and retired military, family members of both as well as cadets are entitled to this free service.
When you come to the center for an appointment, be sure to bring the following forms that apply to you with you:
n Any Forms W-2 (Wage and Earnings) n Any Forms 1099INT (Interest) n Any Forms 1099DIV (Dividends) n Any Forms 1099B (Sale of stocks and mutual funds) n Any Forms 1099R (Retirement pay) n Tuition receipts (for Hope or Lifetime Learning Credits) n Childrens and spouses SSN and date of birth n Check book or routing and account number of bank for direct deposit n Receipts for itemized deductionsWalk-in customers will be seen between scheduled appointments when time permits. "We cannot guarnatee that when someone comes in for a walk-in appointment that we will be available to take them. Naturally, set appointments come first in line, even if the walk-in has been waiting longer," said Anne-Marie Salvatore, lead tax preparer for the West Point Tax Center. She suggested making appointments to save time.
Most taxpayers hope for a large tax refund. Despite the thrill of receiving a large tax refund, you may have had too much withheld from your monthly pay. A large refund is the same as giving Uncle Sam an interest-free loan for twelve to eighteen months.
To get more money now and a smaller refund later, review the new tax credits and consider your tax withholding. Consult IRS Publication 919, Is My Withholding Correct? (available on the IRS Web site at
www.irs.ustreas.gov). It explains how to analyze and factor in the benefits of child and higher education tax credits when adjusting tax withholdings.This publication also includes a Form W-4 to submit to military finance to change the amount of tax withheld. The Form W-4 has worksheets to determine the tax effect of the credits. Many Army families can reap an early benefit from the new child tax credit and increase their paycheck by filing a new Form W-4.
IRS publications and tax forms may be downloaded from the IRS Web site and are also available by calling 1-800-TAX-FORM.