Investor Glossary-volunteer income tax assistanceInvestor Glossary-volunteer income tax assistanceInvestor Glossary-volunteer income tax assistanceInvestor Glossary-volunteer income tax assistanceInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Volunteer Income Tax Assistance

The HTML to link to this page
 

Volunteer Income Tax Assistance is an IRS-sponsored program in which volunteers provide free tax preparation advice to taxpayers who earn under a certain income threshold (e.g. $49,000 per year in 2010). Over 12,000 Volunteer Income Tax Assistance program sites were available across the U.S. in 2010. Schools, libraries, and shopping centers were among the facilities that hosted the Volunteer Income Tax Assistance program. Many Volunteer Income Tax Assistance program locations also offer free e-filing services. The IRS trains volunteers with the Volunteer Income Tax Assistance program to help taxpayers determine if they qualify for any of several tax credits, including the Child Tax Credit, the Earned Income Tax Credit, and the Credit for the Elderly. For taxpayers who are 60 or older the IRS has established a variation of the Volunteer Income Tax Assistance program called the Tax Counseling for the Elderly program. For military personnel, the IRS and U.S. military have partnered to establish the Armed Forces Tax Council, another variation on the Volunteer Income Tax Assistance program.



Rate this Volunteer Income Tax Assistance definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: in escrow, balance sheet, current ratio, implied volatility, ex-dividend, APR, open position, reverse mortgage, deferred revenue, real GDP, wholly-owned subsidiary, inflation, Zero Cost Collar, Key Rate Duration, average price per share, VIX, limit order, labor relations, command economy, quality assurance, LIBOR, debt service coverage, FTSE, phantom income, 1031 exchange, ex-dividend date, per diem, stock split, stock market close, minority interest, cancelled check, covered put, dividends payable, 1035 exchange, class C shares, diluted share, required rate of return, margin rate, retained earnings, EBITDA, FICO score, 144a, deferred tax, risk management, option premium, annual return, 401a, irrevocable trust, liquidity ratio


Home | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
Investor Glossary Index >>> # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
©2004-2014 Investor Glossary - All rights reserved - Terms of Use