New York families: claim valuable taxes worth more than ever this year

New York Families, put thousands of dollars in your pockets!  While filing taxes for  2011 in 2012, you may be eligible to claim valuable federal tax credits such as:

•   The Earned Income Tax Credit, which helps provide a wage supplement for low and moderate income families (those earning less than $49,078 annually).  This credit is worth up to $5,751, and is refundable.

•  The Child Tax Credit, designed to help families offset some of the costs of raising children. This credit is worth up to $1,000 per child. Families who owe little or no income tax can receive some or all of this credit as a refund if they earned at least $3,000 in 2011.

•  The Child and Dependent Care Tax Credit, designed to offset some of the child or dependent care costs that families incur in order to work. This credit is worth up to $2,100, though the amount that can be claimed is limited by a family’s actual federal income tax liability.

In addition, New York State also offers families five other refundable credits:

• The New York State Child and Dependent Care Tax Credit, worth up to $2,310;
• The New York City Child Care Tax Credit, worth up to $1,733;
• The New York Earned Income Tax Credit, worth up to $1,700;
• The New York City Earned Income Tax Credit, worth up to $288; and
• The Empire State Child Credit, worth up to $330 per child.

Even if you don’t owe income taxes, you may still be eligible for a refund check simply by claiming these credits on your federal and New York State tax returns!  Preparing a tax return can be complicated and may seem overwhelming.  There is FREE assistance with tax preparation through a program called VITA (Volunteer Income Tax Assistance).  VITA sites are located in various areas in New York State. To locate the nearest VITA site, call 1-800-906-9887  

Items you need to bring to the VITA sites to have your tax returns prepared:

• Proof of identification
• Social Security Cards for you, your spouse and dependents and/or a Social Security Number verification letter issued by the Social Security Administration
• Individual Taxpayer Identification Number (ITIN) assignment letter for you, your spouse and dependents
• Proof of Foreign status if applying for an ITN
• Birth dates for you, your spouse and dependents on the tax return
• Wage and earning statement(s) Form W-2, W-2G, 1099-R, from all employers
• Interest and dividend statements from banks (Forms 1099)
• A copy of last year’s federal and state returns, if available
• Proof of Bank routing numbers and account numbers for Direct Deposit, such as a blank check   
• Total paid for daycare provider and the daycare provider's tax identifying number (the provider's Social Security Number or the provider's business Employer Identification Number)
• To file taxes electronically on a married-filing-joint tax return, both spouses must be present to sign the required forms.

For more information or to find out more about the location, dates, and hours of free tax preparation sites in your area, call 1-800-906-9887