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The Kentucky Asset Success Initiative will operate a free tax preparation site in Owenton again in 2012.
KASI is a coalition of agencies and organizations seeking to empower low- and moderate-income Kentuckians with financial matters.
The free service is available to families with a household income less than $50,000.
Internal Revenue Service-certified volunteers will file taxes at the Owen County Public Library.
Tax preparers will be available Jan. 31 from 3 to 8 p.m. Appointments are required and can be made by calling the Kentucky Domestic Violence Association at 502-209-5382.
Michelle Fiore, a spokesperson for the program, said it is available to anyone with a household income less than $50,000.
“This service is open to qualifying members of the public, and not just domestic violence survivors.,” Fiore said. “... We have done this work in Owen County for a few years, and I do not believe it will throw people off. We do a screening when they call and can clarify this information for them. “
In 2011, KASI-operated sites helped 11,256 working families claim tax refunds totaling $15.9 million, generating $24.3 million of economic activity in their communities.
Fiore said it was hard to predict how many Owen County residents would take part in the program.
“There is no way to tell how many we will serve,” Fiore said. “Our site has not changed, but the response to our program changes every year.”
Fiore said some Owen County families could have extra incentive to file soon.
“This year, working families with three or more children and an income less than $49,078 (if married and filing a joint return) may be eligible for a maximum earned income tax credit of $5,751,” Fiore said in a statement.
KASI’s member coalitions will host more than 75 sites in 2012.
The goal of the free tax preparation sites is to ensure that more eligible households claim EITCand receive their full refunds rather than paying preparation fees or being tempted by high interest refund-anticipation loans, Fiore said.
For many families, a tax refund is the largest one-time influx of money all year, and the economic boost for individuals and communities is significant,” Fiore said in a statement.
The IRS estimates that as many as 20 percent of taxpayers who are eligible for the EITC do not claim it.
Filers must bring the following documents to their appointment: photo ID and Social Security card for each person on the return, all W-2 forms, all 1099 forms, total of payments for child care expenses (plus name, address, EIN, or SSN of child care provider), Form 1098-T (if applicable), total amount of student loan interest paid in 2011, mortgage and property tax information, checkbook or routing and account information for direct deposit, and a copy of your 2010 tax return (if available). Returns are filed electronically and are usually available in 7 to 10 days.