Tax Preparation Program

Overview-Tax Program

As of July 1, 2020, Capstone is no longer accepting paperwork for tax preparation and filing.

We will complete and file all tax paperwork that has already been submitted to us. 

If you have not yet filed your 2019 tax returns, or dropped off your tax materials, you may file for an extension. We can help you file an extension. 

Additionally, we are available to help with any tax issues arising from previously filed returns, such as having received a letter from the IRS or VT Department of Taxes. 

Please call our tax line at 477-5148 and cleary leave your name, number and address. 

Please see "VITA 2020 Tax Season Schedule" page for information about the stimulus checks.

The IRS and the State of Vermont have extended the tax filing season to July 15, 2020. This is automatic and applies to everyone. You will not be penalized for "late" filing if your return is submitted by July 15^th.  However, there may be a penalty if you file after this date. 

The extension date of July 15^th also applies to the Vermont Home Declaration filing requirement. You will be charged a fee and may receive a reduced Prebate if you file after this date. 

You may file a Renter Rebate until October. Please contact us for assistance. 

The VITA program does basic tax retuns for folks with annual incomes up to $56,000.  We also prepare basic Schedule C's for the self employed. 

Please call our dedicated tax line at 477-5148 with any questions or tax problems, such as receiving a letter from the IRS or VT Tax Department. Leave a clear message with your name and number and we will call you back as soon as we are able.  Or you may email: cedinfo@capstonevt.org.

Want to prepare and file your own taxes?  Those who wish to, may file on their own online at the IRS (www.irs.gov) and Vermont (www.tax.vermont.gov) websites. Or go to:  www.myfreetaxes.com.  It is a VITA-supported site and there is no fee for those earning $64,000 or less; there may be a nominal fee for state filing for those who earn more.

Volunteer Income Tax Assistance (VITA)

As of July 1, 2020 Capstone is no longer accepting tax preparation paperwork. We will continue to prepare and file tax paperwork already received. 

The last day to file on your own is July 15, 2020.  You may request an extension. 

We can help you file an extension. We can also help you if you've received a letter from the IRS or VT Tax Department. 

Please call our tax line at 477-5148 with questions. Clearly give your name, phone number and address. 

Both the IRS and Vermont Departement of Taxes have extended the filing deadline to July 15, 2020 for everyone, without penalty. You do not need to apply for an extension - it is automatic. Those who wish to, may file on their own online at the IRS (www.irs.gov) and Vermont (www.tax.vermont.gov) websites. Another on-your-own site is www.myfreetaxes.com. There is no charge for those earning up to $64,000 and this VITA-supported site walks you through step-by-step.

For those who didn't file in 2018 or 2019, we can assist you in getting your stimulus check if you have not yet recieved one. Please call number below or see VITA 2020 tax season page. 

For those who did file but did not use direct deposit for a refund, the IRS is no longer accepting a direct depost request on their website. Instead they will MAIL your check. You do not have to do anything else as long as you filed in 2018 or 2019. Some people will be getting debit cards instead of checks. 

Please call our tax line at 477-5148 with any questions or problems, such as a tax letter from the IRS or State.  Please leave a clear message with name and phone number and we will call back as we are able. You may also contact us at cedinfo@capstonevt.org. 

Contact Us at the Tax Preparation Program

For questions about our Volunteer Income Tax Assistance (VITA) program, contact cedinfo@capstonevt.org or call our Tax Line at 802-477-5148.

Do you want to volunteer to prepare taxes? Capstone needs you!

This tax season, Capstone is once again teaming with the IRS to be a Volunteer Income Tax Assistance (VITA) site and we are actively recruiting volunteers to prepare and file 2018 tax returns for income-eligible central Vermonters.

No experience is necessary; orientation and training are offered in the months of December and January. We supply all of the materials and equipment for you to become an IRS-certified VITA volunteer. You gain a great skill while helping your community!

Volunteer commitment time is based on your schedule and availability, including at least one experienced preparer per shift. Typically, volunteer tax preparers spend approximately one day per week (4 hours), during the months of February through mid-April at a Casptone tax site location they choose.   

If you are interested in this great opportunity to engage with your community, look no further than Capstone’s VITA program. Contact Laura Sudhoff, lsudhoff@capstonevt.org or 802-477-5176 our tax progam coordinator to learn more or to register to volunteer. 

Please call our Tax Line for all other tax-related questions, comments or concerns: 477-5148

VITA 2020 Tax Season Schedule

As of July 1^st, Capstone has stopped accepting tax paperwork. If you dropped off your paperwork by that deadline, we will complete and file your returns. We will be in touch per the instructions we gave you.

Please note, when you receive your completed returns in the mail from us, you MUST sign the Form 8879 for both the IRS and VT (as applicable) and return them to us right away.

We will electronically file when we receive your signed Forms 8879 from you. We need to have the forms back by July 15^th at the latest for a timely filing.

We are available to help you file an extension if you have not yet submitted your tax paperwork to ous. We are also available to assist with responding to a letter you may have received from the IRS or VT Department of Taxes. 

Please call our tax line at 477-5148 and clearly leave your name, phone number and address. We will get back to you. 

Both the IRS and VT have extended filing deadlines to July 15, 2020 with no penalty, including the Vermont Home Declaration. However, penalties or fees may be imposed after this date. You may apply for a Renter Rebate until October 2020.

You may file online by going to www.irs.gov and www.tax.vermont.gov or to the VITA-supported free site: www.myfreetaxes.com which will walk you through the steps to filing.

Stimulus checks:

• We can assist you in filing for a COVID-19 stimulus check if you are not required to file a tax return.
• If you are not required to file a return, you may go to www.irs.gov and select the first item on the top left "Non-filers: Enter Payment Info Here" and follow the prompts.
• The IRS is no longer accepting a change to direct deposit for your stimulus check if you had requested a paper check in 2019 (or 2018 if you haven't submitted 2019). This is becasue your check will be mailed and is already in the pipeline. 
• If you filed a return in 2018 or 2019 and DID select direct deposit for your refund check, you do not need to do anything, your stimulus check will be direct deposited to that bank account (as long as you still have the same bank account). If you no longer have that bank account, visit www.irs.gov to find out what to do. 
• Some people will receive debit cards for the IRS Stimulus payment instead of a check or direct deposit. 

You may call our dedicated tax line at 802-477-5148 for the most recent information. Please clearly leave your name and number and we will call you back as soon as we are able. Or you may email: cedinfo@capstonevt.org.

Using our VITA tax service is FREE and you get your refund as quickly as you would from paid preparers. 

Our filing service includes both Federal and State returns and is free to qualifying taxpayers meaning those with annual incomes up to $56,000. We can also file for folks who only need a Renter's Rebate or Homestead Declaration.  We prepare basic Schedule C's for the self-employed as well.

Our VITA volunteers are IRS-trained and certified. We use IRS-specified computer software to prepare your return. You then have the choice of having us e-file your returns or to print out the forms for you to mail. Likewise, you may elect to recieve your refund electronically directly to your bank or have a check mailed to you.

Looking to Save Money?  Consider splitting your tax return between your checking account and savings account!  It's easy--you provide your account numbers and bank or credit union routing numbers, decide on an amount you want deposited to each account, and we will enter the information on the proper tax form.

Before requesting to have your tax return prepared, please be sure you have ALL the required documents. All filers will need to present a photo ID for all adults on the return and Social Security CARDS for all people (including dependents) listed on the tax return. If married filing jointly, both spouses will need to sign the returns. And don't forget your checking and savings account numbers and routing numbers if you want direct deposit.

Save Some, Spend Some-Make the Most of Your Tax Return!

Many Americans look forward to tax time because it's an opportunity to use refunds to get ahead by prepaying for larger expenses, paying down existing debt, and purchasing goods that they otherwise are unable to afford during the year. It's also a great time for households to build an emergency savings account or make a deposit to a retirement account. This year, Capstone is encouraging all tax payers to deposit a portion of their refund into a savings account or a retirement account. Just think, 30-40-30!  30% to pay past debt, 40% for current use, and 30% for your future savings!

• If you have just a checking account, ask your bank or credit union to open a savings account that you can use to save part of your tax return, or call Capstone's Liz Scharf at 477-5215 or lscharf@capstonevt.org for recommendations on low-cost starter savings accounts.
• Not sure where to start with a retirement account? Liz can help you with that as well: Liz Scharf at 477-5215 or lscharf@capstonevt.org.
• Bring your savings account number and financial institution's routing number to a Capstone VITA site and we will set up the split deposit of your tax refund.

Let the tax season be your opportunity to jump start your financial future!

Watch Laura and Liz talk about tax time on Fox44/ABC22!

Laura Sudhoff, Tax Program Coordinator, and Liz Scharf, Savings and Credit Program Coordinator, talk about filing taxes and the importance of saving a portion of your refund at tax time.

http://www.mychamplainvalley.com/news/morning-show/money-matters-tax-season-tips/644244303