KeyBank to offer free federal tax return preparation | Events
TOLEDO, OHIO, January 24, 2013 – KeyBank is once again offering its free Super Refund Saturday tax preparation service in Toledo on February 9, in partnership with United Way of Greater Toledo. The event will take place from 9 a.m. to 3 p.m. at United Way of Greater Toledo, 424 Jackson Street, Toledo.
In Northwest Ohio, Super Refund Saturday events will also take place on February 2 at the Wood County Public Library in Bowling Green and on February 2 at the Sutton Center in Port Clinton.
Super Refund Saturday is a one-day event, during which KeyBank professionals provide free income tax preparation assistance to low- and moderate-income wage earners and help qualified individuals claim the Earned Income Tax Credit (EITC).
“Filing an income tax return can be a confusing process for many, and affording a professional tax preparer may be out of reach,” says James A. Hoffman, president of KeyBank’s Michigan/Northwest Ohio District. “Super Refund Saturday is part of our commitment to local residents, and we aim to make the service convenient and accessible. It’s gratifying to help people file their federal returns for free and identify additional money through the EITC.”
KeyBank is offering Super Refund Saturday services for the eighth year, in partnership with community non-profits, to ensure these activities are convenient and accessible. In addition to Toledo, Super Refund Saturday takes place in several other cities across the U.S. where KeyBank has a presence.
The EITC, which was originally enacted in 1975, is now one of the largest anti-poverty tools in the United States. It is a refundable credit for low- to moderate- income individuals and families, particularly those with qualifying children. Qualifying children must be under 18 years of age and must be related by blood, marriage or official decree such as adoption. They must also live with the taxpayer claiming the EITC within the U.S. for at least half the year. Receiving the EITC greatly helps to balance the financial burden of families in need; however, taxpayers must file an income tax return to get it, even if they don’t earn enough to pay taxes.
To qualify for the EITC, earned income must be less than:
- $45,060 ($50,270 married filing jointly) with three or more qualifying children
- $41,952 ($47,162 married filing jointly) with two qualifying children
- $36,920 ($42,130 married filing jointly) with one qualifying child
- $13,980 ($19,190 married filing jointly) with no qualifying children
The Tax Year 2012 maximum Earned Income Tax Credit correlates with the above parameters:
- $5,891 with three or more qualifying children
- $5,236 with two qualifying children
- $3,169 with one qualifying child
- $475 with no qualifying children
To take advantage of Super Refund Saturday, income tax return filers should bring these documents:
- Valid photo ID
- Social Security card for themselves and each dependent
- W-2 Forms (reporting full-time wages)
- Previous year’s tax return
- 1099 Forms (reporting part-time work and interest income), if applicable
- Unemployment forms, if applicable
- Proof of child care payments
- Other IRS forms as appropriate
- Bank account information and bank routing number
“Super Refund Saturday is something we are proud of and look forward to every year,” says Hoffman. “The hardworking families in our community benefit from access to help and information. We are happy to be the ones to provide it.”
To take advantage of KeyBank’s Super Refund Saturday, call 1-800-650-4357 for more information.