FEDERAL TAXES

Required Minimum Distributions - Suspended for 2009 (FINRA INVESTOR PODCAST January 14, 2009)
 Congress took action in December 2008 to suspend the requirement to withdraw a minimum amount from qualified retirement accounts such as 401(k)s and 403(b)s during 2009. If you are 70 1/2, or will be in 2009, it's important to understand the ramifications of the suspension and how it might affect your retirement income.

Earned Income Tax Credit
The Earned Income Tax Credit (EITC), sometimes called the Earned Income Credit (EIC), is a refundable federal income tax credit for low-income working individuals and families. Use the EITC Assistant link to find out if you are eligible for the Earned Income Tax Credit by answering some questions and providing basic income information. Also available in Spanish.

Low Income Taxpayer Clinics
If you are a low income taxpayer involved in a tax dispute with the Internal Revenue Service and cannot afford professional tax assistance, you may qualify for assistance from a Low Income Taxpayer Clinic. Find a clinic in your area by clicking Ohio on the national map.

Free File Tax Preparation And Filing
If your adjusted gross income was $56,00 or less in 2008, you can use Free File to prepare and e-file your taxes online. Scroll down and click on Free File: Step by Step instructions to start the process or click on Free File: Frequently Asked Questions for additional information.

Taxpayer Assistance Center Locator
IRS Taxpayer Assistance Centers provide personal tax help when taxpayers believe a tax issue cannot be handled on-line or by phone, and they need face-to-face assistance. Enter a zip code to find the nearest center.

Taxpayer Frequently Asked Questions
The Internal Revenue Services FAQ link is updated each tax year. If you don't find an answer to a general tax question, click on Tax Topics or Tax Trails.

Forms And Publications
Find the tax forms and publications that you need for a specific tax year.

Taxpayer Rights
Know your rights as a taxpayer with the information provided on the Internal Revenue's taxpayer rights link.

Federal Income Tax Refund Status
An inquiry form on the IRS website allows you to obtain information on the refund status of your tax return. The link also provides information on email and Phising scams about your refund.

Taxpayer Advocate Service
The Taxpayer Advocate Service is an independent organization within the IRS “whose goals are to protect individual and business taxpayer rights and to reduce taxpayer burden”. Employees of this service assist taxpayers who are “experiencing economic harm, who are seeking help in resolving tax problems that have not been resolved through normal channels, or who believe that an IRS system or procedure is not working as it should”.

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STATE TAXES

Ohio Benefit Bank
The Ohio Benefit Bank (OBB) is a web-based computer program that connects low and moderate-income Ohioans with access to tax credits and public benefits. Check out the link for free income tax assistance.

Ohio Taxpayer Frequently Asked Questions
Have questions on the Ohio individual income tax? Check out the list of frequently asked questions for answers.

Ohio Tax Rate Finder
Enter your address and find information on local taxing jurisdictions and tax rates for all addresses in the State of Ohio. Currently information is available for the following: Municipal Tax, Ohio Public School District Income Tax, and the Sales and Use Tax. Coming soon will be information on other taxes, including Real and Personal Property Taxes.

Ohio Tax Return Refund Status
The inquiry form on the Ohio Department of Taxation website allows you to obtain information on the refund status of your tax return.

Ohio Online Tax Filing Services
Filing electronically saves time. Learn about the e-filing options available for the Ohio taxpayer.

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LOCAL & REGIONAL INFORMATION

Mahoning County

Mahoning County Tax Informaton
Links on the Mahoning County's treasurer's website provide information on real estate and personal property taxes.

Municipalities

Municipal Tax Forms
The Ohio Department of Taxation provides a link on its website for contacting cities and villages in Ohio with municipal income tax. Obtain tax forms and information for a municipality through this link.

Regional Income Tax Agency
The Regional Income Tax Agency (also known as R.I.T.A.) provides services to collect income tax for 139 municipalities in the State of Ohio, including many local communities. E-filing and e-payment are available via registration. Check out its links for individual, business, and municipal information.
 

This program is made possible by a grant from the FINRA Investor Education Foundation through Smart Investing @ your library®, a partnership with the American Library Association. The PLYMC has formed  local partnerships with the following community agencies to promote financial literacy initiatives especially to young families: Youngstown/Mahoning Valley United Way, Mahoning County  Financial Stability Partnership, Mahoning/Youngstown Community Action Partnership (MYCAP), Junior Achievement of Mahoning Valley, Inc., Mahoning County Coalition for Community Reinvestment, Child Care Connection, Youngstown Metropolitan Housing Authority, Youngstown Economic Development Office, WFMJ-TV 21, WKBN-TV-27, and WYTV-TV -33.