Why File?
Claim Your Money
Even if you earn less than the amount that you are legally required to file, you should file if income taxes were deducted from your pay check. In most cases you will be due a refund for the income taxes deducted. Also, you may be eligible for EITC (Earned Income Tax Credit) benefits.
Get your refund fast and free at one free tax sites in Philadelphia. All tax returns are filed online and prepared by IRS certified volunteers. You should receive your refund within 7-10 days of filing.
Want your refund a few days sooner? At our tax sites you have the option of using direct deposit to get your refund sent directly to your bank account in 7-10 days. DIrectly depositing a refund into your bank account also lets you avoid check cashing fees, so you can keep all of your money at tax time. If you do not have a bank account, consider signing up for a Community Financial Resources Prepaid Debit Card.
Spend Some, Save Some: You now have the option of splitting your refund into up to 3 bank accounts, so you can have some to use now, and some for when you really need it later. Also, check out our tips on saving and managing money to make the most of your money year-round.
Even if you are not required to file, don't miss out on your chance to get tax refunds and credits that you are eligible for. There are two types of tax benefits that may be beneficial to you.
Tax Deductions and Credits
A tax deduction is the amount of money subtracted from your yearly income when you are figuring out how much you owe. It is helpful because it lowers the amount of income you have and therefore the amount of taxes you owe.
A tax credit lowers the amount of taxes you owe, dollar for dollar.
The Earned Income Tax Credit (EITC) is a refundable credit which means that you can get a refund for the amount of the credit that is greater than the tax you owe. In Philadelphia, around 39,000 eligible households do not file for the EITC, leaving about $66.3 million in unclaimed credits. Don't miss out, find a free tax site today!
Other Credits that you may be eligible for include:
Child Tax Credit
Additional Child Tax Credit
Child and Dependent Care Credit
Education Credits
Retirement Savings Contribution Credit
For more information on tax deductions and credits visit the IRS.
