Hide Transcript Show Transcript

THE INTERNAL REVENUE SERVICE IS NOW PROCESSING TAX RETURNS. THE SYSTEMS OPENED THURSDAY. JASON UPSHAW, OWNER OF BELVEDERE TAX GROUP, SAYS SOME PEOPLE SHOULD LET A PROFESSIONAL PREPARE THEIR TAX RETURN. >> TODAY, SOME OF THE BIG THINGS ARE VIRTUAL CURRENCIES, THE GIG ECONOMY. IT’S MAKING A LOT OF PEOPLE QUESTION IF THEY REALLY KNOW HOW TO MAXIMIZE THE TAX BENEFITS. LIKE UBER DRIVERS, LIFT DRIVERS, A LOT OF FOLKS ARE BECOMING SELF-EMPLOYED NOW. VANESSA: THE REVISED 1040-FORM FOR TAX YEAR 2019 INCLUDES VIRTUAL CURRENCY QUESTIONS. UPSHAW SAYS STANDARDIZED DEDUCTION HAS BEEN INCREASED FROM 12,000 12,002 A DOLLARS. -- $12,200. >> IT COULD BE THE DIFFERENCE BETWEEN FILING AND NOT FILE, BETWEEN A REFUND OR NOT. VANESSA: A BIG CHANGE FROM LAST YEAR IS STILL IN PLACE. THE STATE AND LOCAL TAX OR SALT DEDUCTION IS CAPPED AT $5,000 FOR A MARRIED PERSON FILING A SEPERATE RETURN AND $10,000 FOR ALL OTHER FILERS. UPSHAW SAYS THAT COULD MEAN HIGHER TAX BILLS. >> ESPECIALLY IF YOU ARE A HIGH EARNER. YOUR STATE INCOME TAX, YOU MIGHT HAVE 15,000 WITHHELD. YOU CAN ONLY WRITE OFF A MAXIMUM OF $10,000. THAT REALLY HURTS. VANESSA: WHEN FILING ONLINE, MARYLANDERS WILL BE ABLE TO OPT-IN TO A NEW ONLINE IDENTITY PROTECTION PIN PROGRAM. MOST REFUNDS ARE SENT IN LESS THAN 21-DAYS. LIVE IN DOWNTOWN BALTIMORE, VANESSA HERRING, WBAL

Advertisement Free tax preparation available for Marylanders who qualify Share Shares Copy Link Copy

Tax season is underway and those who need assistance with tax preparation can get help for free.The nonprofit Creating Assets Savings and Hope Campaign of Maryland offers free tax preparation for low- to moderate-income Marylanders. The organization runs 14 sites throughout the Baltimore area, including one at the Enoch Pratt Free Library's central library.On Friday, which is National Earned Income Tax Credit Awareness Day, Internal Revenue Service Commissioner Charles Rettig said it's important that people find out whether they are eligible for money that they've earned but might not know about."Last year in the Baltimore area, 378,000 families received $895 million in ITC credits, averaging about $2,300 per person -- $2,300 is a difference to people, $100 is a difference to people. This is money that people simply have to file a tax return who are entitled to the credit (and) claim the credit," Rettig said.Forty-five percent of all Maryland residents are eligible for the free tax preparation. Anyone who earned $56,000 or less in 2019 may be eligible to have their federal and state taxes prepared and e-filed for free.In the Baltimore area, call 410-234-8008 to make an appointment. Elsewhere in the state, call 800-492-0618.Find a location in the Baltimore area or around the state.Baltimore-area tax preparation locationsCentral BaltimoreCentral Enoch Pratt Free Library400 Cathedral St., 21201Schedule an Appointment1199 SEIU611 N. Eutaw St., 21201Schedule an AppointmentSouth BaltimoreSouthern Community Action Center606 Cherry Hill Road, 21225Baltimore City Residents OnlySchedule an AppointmentNorthwest BaltimoreNorthwest Community Action Center 3939 Reisterstown Road, 21215Baltimore City Residents OnlySchedule an AppointmentCenter for Urban Families 2201 N. Monroe St., 21217Schedule an AppointmentHabitat for HumanityAppointments available at two locations on varying days:3741 Commerce Drive, No. 309, Halethorpe, 21227Schedule an Appointment1300 N. Fulton Ave., Baltimore, 21217Schedule an AppointmentRandallstown Library8604 Liberty Road, Randallstown 21133Schedule an AppointmentLoyola University MarylandLoyola Clinical CenterBelvedere Square5911 York Road, No. 100, Baltimore 21212DirectionsNorth BaltimoreNorthern Community Action Center5225 York Road, 21212Baltimore City Residents OnlySchedule an AppointmentEast BaltimoreWe Are CASA2224 E. Fayette St., 21231Appointments only 410-732-7777Not ADA compliant, but wheelchair accessible. Servicios disponibles en español, llame al 410-732-7777 para hacer una citaHumanim, Inc.1701 N. Gay St., 21213Schedule an AppointmentMorgan State University, School of Business4200 Hillen Road, RM 562, 21218Corner of Hillen Road and Argonne DriveSchedule an AppointmentBaltimore CountyUniversity of Maryland Baltimore County (UMBC)Apartment Community Center1000 Hilltop Circle, Catonsville, 21250Schedule an AppointmentHoward CountyAppointments available by calling 410-234-8008MultiService Center9900 Washington Blvd. North (Route 1), Laurel 20723Non-Profit Collaborative9770 Patuxent Woods Drive, Suite 307, Columbia 20146