1 / 21

M Y F REE T AXES PARTNER TRAINING WEBINAR

M Y F REE T AXES PARTNER TRAINING WEBINAR. To offer in-person and online tax preparation tools and assistance to hard-working low- and moderate-income families To serve as a seasonal on-ramp for year-round financial planning

rafer
Download Presentation

M Y F REE T AXES PARTNER TRAINING WEBINAR

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. MYFREETAXES • PARTNER TRAINING WEBINAR

  2. To offer in-person and online tax preparation tools and assistance to hard-working low- and moderate-income families • To serve as a seasonal on-ramp for year-round financial planning • Target populations: Female heads of household, persons with disabilities, college students, veterans, low-wage workers • MyFreeTaxes Partnership’s Mission

  3. MFT Core Partners POWERED BY: SPONSORED BY:

  4. Year 1 (2009): 8,580 returns • Year 5 (2013): 82,286 returns • Total returns completed in 5 years: 180,000 • Became a true network in 2013, centered around the Core Partners, their affiliates, and the Helpline • Over the past 5 years, MFT has positioned facilitated self-assistance (FSA) tax preparation as a top virtual financial capacity-building tool for low-income households and community tax prep agencies • MFT Brief History

  5. MyFreeTaxes.com website redesign • H&R Block software redesign • Helpline expanded hours: 9am – 10pm EST Mon – Sat • What’s New This Year?

  6. Is my URL correct? How can I test it? Type in your URL and press enter – the address will revert to the default myfreetaxes.com address You can view the SIDN matched with your URL at the bottom of your browser window • If you discover your URL isn’t working properly after testing, contact myfreetaxes@goodwill.org for assistance • Preseason Common Questions

  7. How do I access the marketing materials? Any marketing-related questions should be directed to myfreetaxes@goodwill.org • Preseason Common Questions

  8. For your clients: MFT Helpline 1-855-MY-TX-HELP (698-9435) Menu Options: • Block Fees • Tax-related issues • VITA site help (IRS locator tool) Chat and email can be accessed through MFT portal • Important Contact Info

  9. For Partner Agencies – that’s you Helpline Menu Options (continued): 4. Partners Goodwill email (once again!): myfreetaxes@goodwill.org • Important Contact Info

  10. If you’re utilizing volunteers exclusively for MFT, have them take the certification tests on the HR Block software. • Blended volunteers who’ve already trained/tested on TWO can still do practice problems from 4491-W on HR Block (get answers from your SPEC if you don’t already have them). • Volunteers

  11. MYFREETAXES/H&R BLOCK • LIVE SOFTWARE DEMO

  12. Kimberly Gordon Head of Household Three dependents Income: W-2, 1099-G (unemployment), W-2G Student Loan Interest, Standard Deduction Credits: Dependent Care, CTC/Additional Child Tax Credit, American Opportunity Credit, EITC • Scenario

  13. Kimberly Gordon – 1234 Main St. Cleveland OH 44113 DOB: 10/01/72 SSN: 555-55-1234 • Rachel Gordon – Full-time student, not filing DOB: 11/12/93 SSN: 555-55-2345 • Briyonna Gordon DOB: 03/16/96 SSN: 555-55-3456 • Tony Gordon DOB: 08/12/05 SSN: 555-55-4567 • Names & SSN’s

  14. Kimberly’s W-2

  15. Kimberly’s Unemployment Income

  16. Kimberly’s Gambling Winnings

  17. Fed Loan - $87 • Kimberly’s Student Loan Interest

  18. Precious Babies Daycare Center 1845 St Clair Ave. Cleveland, OH 44115 EIN: 12-3123123 Payments made in 2013: $1,500 • Daycare info for Tony

  19. Rachel’s Tuition Info Payments received: $2,150 in loans, $350 out of pocket Other qualified expenses: $200 for text books

  20. Questions • How much is Kimberly’s Student Loan Interest deduction? • Who qualifies Kimberly for the Child & Dependent Care Credit? • What is the amount of Kimberly’s Dependent Care Credit? • What are the amounts of Kimberly’s CTC and Additional CTC? • What is Kimberly’s American Opportunity Credit for Rachel? • How many of Kimberly’s dependents qualify her for EITC, and what is the credit amount? • What is Kimberly’s total federal refund amount?

  21. Student Loan Interest Deduction: $87 • Tony qualifies Kimberly for the dependent care credit • The dependent care credit amount is $333 • CTC is $0, Additional CTC is $1,000 • Kimberly’s AOC for Rachel is $870 • 3 dependents qualify Kimberly for EITC, amount is $3,865 • Total federal refund amount is $8,870. • Answers

More Related