Community members have been encouraged to begin preparing for the tax season by participating in the Frankfort Tax-Aide Tax Preparation program that allows for community members to receive tax preparation tips to better understand and file their documentation.
All tax preparation will be scheduled by appointment only at the Frankfort Neighborhood Center at 259 S. 3rd St. on Wednesdays and Thursdays beginning this week through mid-April. Further information about the program may be received by calling 765-239-9609, but intake forms must be picked up at the site.
Most taxpayers will need to make three visits to the tax site, including once to pick up forms, once to submit all paperwork and have it scanned and once to review return and sign final forms.
The tax helpers may prepare most returns with:
- Wages, interest, dividends, capital gains and losses, unemployment compensation, pensions and other retirement income, Social Security benefits.
- Self-employment income, including income reported on Form 1099-MISC. or Form 1099-NEC, land-only rentals.
- Schedule K-1 that includes only interest, dividends, capital gains and losses or royalties.
- Itemized deductions, including cash and noncash distributions to charity.
- Cancellation of nonbusiness credit card debt.
- Most credits, such as earned income credit, child credit, child and dependent care credit, premium tax credit.
- Established tax payments.
- Health Savings Accounts.
- Amendments to filed returns.
- Prior three tax years’ returns.
The tax helpers cannot prepare returns with:
- Complicated capital games and losses, such as futures or options, Alternative Minimum Tax, farm income or expenses, depreciation, moving expenses, hobby income, any virtual currency transactions or any topic outside the scope of their training.
The appointments for the service may be made for the month of February for Feb. 5, Feb. 6, Feb. 12, Feb. 13, Feb. 18, Feb. 19, Feb. 25 and Feb. 26.
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