It’s officially tax season. Once again, WHNT News 19 is Taking Action to help you get your 2016 taxes done.
Several members from the Alabama Society of CPAs (ASCPA) were on hand during the three-hour event to answer your questions on Tuesday, February 9. Our team of licensed CPAs answered more than 200 phone calls and emails from viewers with tax questions.
The questions ranged from retirement income to dependent claims to inheritance tax. Christopher Taylor, Vice President of the Huntsville ASCPA, said he also continues to see challenges with the Affordable Health Care Act and its penalties for taxpayers who do not have minimum essential health care coverage.
“The individual mandate penalty is still there,” he said. “It’s actually increased from last year. It’s up to $325 per person, or it’s up to two percent of their household income, whichever is greater.”
The event is all about maximizing your tax returns, too, so our volunteers helped callers find key deductions.
“The above-the-line deduction for teachers for all of their supplies and materials bought for the classroom still stands,” said Taylor. “Mortgage interest premiums are deductible, as well.”
Don’t forget to be on the look out for possible tax season scams. The IRS releases a list of the top 12 most common scams annually.
While the WHNT News 19 Tax Action Line is over, WHNT News 19 is still offering a free tax service to local working families throughout this tax season. The United Way of Madison County and Impact Alabama are sponsoring the SaveFirst Initiative. For more information, click here.
Here are some helpful links to use as you prepare your taxes:
- “How to find a tax preparer” – http://irs.treasury.gov/rpo/rpo.jsf
- “Where’s my refund – IRS” http://www.irs.gov/Refunds
- “Where’s my refund – State of Alabama” https://myalabamataxes.alabama.gov/_/
DISCLAIMER: WHNT News 19 and the ASCPA are not responsible for tax advice provided. This is a free service and not intended to replace or substitute advice provided by your accountant or tax professional. Any tax advice included in this communication (including attachments) is not intended or written to be used, and it cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer. Thank you.