GREENSBORO, N.C. -- Calling all procrastinators! Tax Day is April 18 this year.
If your household income is below $95,000 as a married couple filing jointly, or below $65,000 as an individual, you can prepare and file your federal and state income tax returns for free! The Benefit Bank® of North Carolina has a free online tax-filing service. This service is sponsored by MDC—a North Carolina nonprofit organization.
Here are some tax tips to help you file:
1. Preparation checklists: Log onto NCFilesFree.Org; create an account using The Benefit Bank of North Carolina online service; click on My Taxes; click on 2016 Income Taxes; click on federal and state income tax checklists; and use those checklists to assemble the information you will need to complete and electronically file your federal and state income tax returns using The Benefit Bank.
2. Earned Income Tax Credit: The EITC is a refundable tax credit available to qualifying lower-wage workers and their families. Workers earning less than about $50,000 from wages, self-employment, or farming in 2016 could qualify. The EITC can reduce the amount of tax you owe and may give you a refund. You are required to file a federal income tax return to receive the EITC. You can log onto NCFilesFree.Org to prepare your taxes and see if you’re eligible for the EITC and other tax credits.
3. Extensions: The tax deadline to file your 2016 federal and state income tax returns this year is April 18. If you can’t make that deadline, don’t panic! Log onto IRS.gov and dor.state.nc.us and follow the steps to file an automatic six-month extension to complete your taxes by October 18. Remember, if you owe money, you still need to pay the estimated taxes to avoid tax penalties and interest. File for your extensions on or before April 18th.
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