New Volunteer Orientation Part A (For Tax Preparers)
Open books (paper version or online--open PDF) Update: Taxslayer has updated the educator expense adjustment as of 12/7/2022 so the correct AGI for Monica return is $57,375 and Refund is $4,844. The values shown in PowerPoint were based off last year's adjustment amount. |
New Volunteer Orientation Part B (For Taxpreparers)
Credits- Nonrefundable & Refundable Calculating Taxable portion of Annuity Need before viewing: PUB 4012 and PUB 6744 starting on page 74 Open books (paper version or online--open PDF) Update: Taxslayer has updated the educator expense adjustment AND education credits as of 12/7/2022 so the correct AGI for Lincoln return is $57,608 and Refund is $4,468. The values shown in PowerPoint were based off last year's educator adjustment amount. |
Maximizing the Education Credit
In 2014, the IRS began allowing for Pell grants & some scholarships to be claimed as income in order to get more education credits. Learn how to do this--and you could possibly increase your client's refund by up to $2,500. Learn what to watch for & rules that need to be followed-- not everyone qualifies. Click Image to learn more |
HSA- Health Savings Account -- click image for recording
For PowerPoint of HSA training click here For PDF of HSA training click here |
Residential Energy Credit based on the IRS FAQ page shared 12/22/22 by IRS --The Internal Revenue Service today released frequently asked questions (FAQs) about energy efficient home improvements and residential clean energy property credits in Fact Sheet FS-2022-40 (Click link to learn more)
For PowerPoint of Energy Credit training click here For PDF of Energy Credit training click here |
Returning Volunteer Information Session
Click image for PDF of presentation View Recording-click here For Power Point Click Here |
You can contact me at maryvitataxes@gmail.com
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Please note: I, Mary Meador, AM NOT a certified accountant or tax law expert. I volunteer with VITA providing free tax preparation for individuals and families whose income is less than $66,000 a year. We deal with simple returns at our sites. I cannot guarantee the accuracy of all the information on this site as tax laws change and I may not have a clear understanding of complicated issues. I am trying to provide basic tax preparation information for our volunteers to get started--remember Publication 4012 is your go-to resource for questions, as well as irs.gov and Publication 17. I hope you find this information useful and easy to understand. Thanks for being a VITA/TCE volunteer!
All images from our UWLHG Canva account unless promoting the resource linked to |