May 24, 2012
KNOXVILLE, Tenn. (WVLT)--It's that dreaded time of year again.
Time to file your taxes.
Many of you had a tough year, but the federal government wants to help.
Here are some ways you can get more money back even if you barely worked.
From foreclosures, to layoffs, to business closings, many people are suffering financially.
IRS Representative Dan Boone says, "Last year was a tough year for a lot of people and we're trying to be flexible as far as setting up paying plans."
A payment plan with the IRS?
It's true, but make sure you file by April 18, so you're not saddled with a late filing penalty.
And a very important point here.
Even if you don't make enough money to legally be elligible to file, do it anyway, you can get thousands back with the credit for earned income.
Dan Boone says, "If you earn less than $49,000 last year and you worked just part of the year, maybe just a month, be sure to check out the earned income tax credit. It could be worth up to $5,666 back to you even if you didn't pay anything into the government."
There is also a credit called "making work pay" tax credit.
It can earn you several hundred dollars.
Dan boone says, "This is for working people and generally if you earn under $75,000 or are married and earn under $150,000 you probably will qualify for this as long as you did work last year, credit of $400 for singles and up to $800 for married couples."
Possibly hundreds of thousands of dollars back in your pocket, even if you didn't pay the government much.
It's a little extra from uncle sam during these tough economic times.
The following are free filing locations with no appointment needed:
Beta Alpha Psi, University of Tennessee
Goodwill Industries of Knoxville
LT Ross Building
Mount Calvary Baptist Church
