Well, the holidays are over and it’s the start of another year–and another opportunity to reevaluate your financial life and practices, woo-hoo! The good news is that it just got a lot easier, thanks to all the wonderful resources and tools available at Smart About Money (SAM). Smart About Money is one of the many programs of the National Endowment for Financial Education®. NEFE® is an independent, nonprofit foundation committed to educating Americans on a broad range of financial topics and empowering them to make positive and sound decisions to reach their financial goals. They offer tips, strategies and information on diverse topics like crisis and fraud, saving and investing, spending and borrowing, housing and transportation, taxes and more.
Click through and take a look at some of the tools like the Life Values Quiz, designed to help you better understand how and why you make financial decisions. Knowing your own habits and patterns is the first step to making positive changes in your financial life!
President Trump is poised to sign the recently passed tax bill, and the first question on many folks’ lips is: when will the tax cuts start? Because the legislation is complex, it’s hard to know exactly when it will effect taxpayers across the U.S. Some of the bill’s impact will begin at the start of 2018, though other elements won’t take effect until 2019 and beyond. For instance, when you file your 2017 taxes in April, you’ll already be getting some benefits like lower tax withholding, but other perks won’t show until you file your tax return in April 2019. Luckily for us, the experts at Fortune magazine have broken it all down quite nicely HERE
The federal Free File Alliance, a public-private partnership that provides free online federal income tax preparation and e-filing services to taxpayers who earned $60,000 or less in 2014 is hosting a public briefing.
When: Wednesday, March 11, 2015
10:00 a.m. – public briefing
10:30 a.m. – Free File demo
(Registration begins at 9:30 a.m., refreshments will be served)
Where: Harper College
Wojcik Center, Room W214, 2nd Floor Boardroom
1200 West Algonquin Road
Palatine, IL 60067
To RSVP, please email Lori Baux at Mlbaux@aol.com
or call 515-233-3816
Following the briefing, take advantage of a hands-on demonstration to see how easy it is to use Free File, learn about other free tax services in the community, and gain access to outreach materials to inform eligible taxpayers.
Both the federal Internal Review Service and the State of Illinois have drastically reduced the number and variety of forms they send to the Library for public distribution.
We will only be receiving a limited number of the federal forms 1040, 1040A, and 1040EZ. The Library will not receive instructions, schedules, or other numbered forms. Except for some Illinois 1040 forms, the Library will also not receive any copies of state forms for distribution.
Sets of reproducible forms will be available for photocopying, (for both IRS and Illinois) or you may access the forms you need online and print them from a Library computer. For assistance, please ask at the Reference Desk on the second floor.
For more detailed information, contact the Internal Revenue Service (www.irs.gov) at 800/829-1040 for Individual assistance and 800/829-4933 for businesses. The local office phone number is 847/737-6688.
For the Illinois Department of Revenue (www.revenue.state.il.us) call 800/732-8866. The local office phone number is 847/294-4200.
For more detailed information and links to forms and filing help, visit the Tax Information page on our web site at mppl.org/research/taxes.
Con artists pretending to be IRS agents call unsuspecting taxpayers and tell them they owe money and must pay using a prepaid debit card or wire transfer. Those refusing to pay are threatened with arrest, deportation (many of the targeted victims were immigrants) or loss of a business or driver’s license. Estimates that at least 20,000 of these calls were made and victims have given over $1 million to the scammers, making this the largest tax scam ever. The real IRS first makes contact by mail, not phone, about taxes due and they never ask for payment via a prepaid debit card or wire transfer. For more info: Tax phone scam ‘largest ever’
We received our first shipment of Federal 1040 Instructions this morning. Tax forms are kept on the second floor near the Reference Desk.
Times are changing and while many taxpayers choose to file their taxes electronically, others still prefer to submit their forms by mail. The print shipments from the IRS and IDOR to public libraries have been delayed and reduced significantly this year.
The Library no longer has state instruction books available and IDOR will not be sending additional quantities of forms nor instructions to the Library. As of this date, the Library has not yet received the IRS instructions for the 1040 or 1040A.
To request forms to be delivered to you individually in print, you may call the IRS or IDOR directly, or download and print copies of forms, instructions, or publications.
Internal Revenue Service: 800-829-3676 (Note: delivery dates were impacted by late tax legislation.) http://www.irs.gov/Forms-&-Pubs
Illinois Department of Revenue: 800-356-6302 (Note: the IDOR is encouraging filers to submit electronically and have limited the amounts of forms/instructions shipped to public libraries.) http://www.revenue.state.il.us/TaxForms/index.htm
The IDOR and IRS determine their own shipping dates.
Our Reference Desk would happy to help you access the IRS or IDOR websites to locate the forms you may need.
The Cook County Property Tax Portal is the result of collaboration among the elected officials who take part in the property tax system. The portal consolidates information and delivers Cook County taxpayers a one-stop customer service website.
Information is gathered from data provided by both the Cook County Treasurer and the Cook County Assessor.
The U.S. Department of the Treasury moved in late 2010 to make all federal benefit payments electronic by March 2013, a change that will impact everyone nearing retirement and the more than 10 million Americans are already receiving benefits by paper check. Please click here for more information to ensure benefits continue without interruption.