AARP Tax Help Information
Free tax preparation service is a great aid to anyone, whether it comes from the AARP (American Association of Retired People) or another organization. AARP claims to be the largest free tax-help preparation service for low-to-moderate income people in the country. The elderly comprise a large portion of the population, and the AARP specializes in providing tax help to those over 60 years of age. A word of caution, however, is required. The IRS code is very complex, and if your tax circumstance is unusual, AARP may not be the right choice for you. But if you have been a law-abiding citizen who regularly pays taxes and doesn't have complicated tax matters to worry about, AARP's free tax service can be a big help.
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Function
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AARP has 32,000 trained volunteer tax specialists at more than 7,000 locations across the country. A bonus is that the service is partially funded by the government. They offer tax help from February 1 through April 15, the deadline to file taxes.
Benefits
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The IRS tax code is complex. Because there are so many deductions and legal ways to harbor your money against taxation, many people don't realize all but the most common ways. Often, seniors don't receive as large of a refund as they deserve because they are filling out a short form instead of a long form. The long form requires more diligence but can bring more of your money back to you. In the 2009 tax year alone, according to the AARP, they were able to recover more than $186 million in income tax credits for the more than 2 million people they helped.
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Considerations
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AARP trains their many tax consultants, who are sufficiently qualified to help with run-of-the mill returns. However, when matters are complicated, it's advisable to turn to people who make a living at providing tax help information. You may have to pay for their services but, depending on the circumstance, it's possible to qualify for a substantially larger refund than you would with the free service AARP offers.
Money Management
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AARP also offers money management assistance, which can be very helpful and could impact your tax liabilities. Seniors living on a budget sometimes have to make difficult decisions regarding their health and finances, which can have negative tax consequences. Some are even forced into the position of using high-interest credit cards, where the interest is not tax-deductible, to survive. Money counseling options offered by the AARP can help on both the financial and tax sides of the equation.
Warning
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While the AARP's tax service benefits many seniors, the nuances of tax laws are sometimes almost too subtle to detect except by those whom follow them assiduously. If you find yourself in an unusual situation, such as owing back taxes or facing a lien being placed on your home, AARP-trained volunteers should direct you to professionals in this area. There are ways to settle tax claims that the trained volunteers aren't familiar with. In these cases, it is in your best interest to find a good tax attorney to evaluate your situation. These are the circumstances in which to seek professional paid help.
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