CEP Tax Prep Rundown 3/23/3018
Tax Site and Best Practice Shout Out
We received our current rejection rates from the IRS. On average we’re at 7.58%, and Evanston and West Chicago are at 4.6% and 4.8%, respectively. Way to go you two!!
Outcomes and impact (including our savings campaign winners!
Last week was a game changer! We served 15% more people than the same time last year. We’re now down by 12% and projected to finish the season between 8 and 10%. Keep it up!! I’m hopeful we’ll land in the single digits! :)
Our savers have saved a total of $1.1 million dollars! Imagine how far this money will go to support our clients during emergencies and help them achieve their financial goals. We're also now 8% ahead of where we were last year with regards to the number of savers. And, Springfield, Pilsen, and Waukegan have all met their savings targets for the season! Congratulations!
The new savings winner this week is Kenneth R. from Waukegan! Way to go, Lake County!
Money Action Day flyer with this year’s schedule
For your convenience below is the schedule of dates.
Where: 567 W. Lake Street, 2nd Floor Conference Rooms
When: 10 am to 4 pm
ThursdayMay 10th (services begin 12:00pm)
- Saturday, May 19th
- Thursday, June 7th
- Saturday, June 23rd
- Thursday, July 19th
- Thursday, August 16th
- Thursday, August 30th
- Thursday, September 27th
- Saturday, October 13th
- Thursday, October 25th
For those of you who are new, MAD is CEP’s post tax-season tax preparation program. We host monthly tax days starting in May through October. MAD volunteers are able to prepare current and prior year returns and file amendments. In addition, our tax clinic staff attorney is available to provide legal counsel and intake support for anyone who receives a letter from the IRS or IDOR.
IRS Update on Extender Provisions
Link(s) to latest VTA: Update on Extender Provisions
The Internal Revenue Service is now processing
Exclusion from gross income of discharge of qualified principal residence indebtedness (often, foreclosure-related debt forgiveness), claimed on Form 982,
Mortgage insurance premiums treated as qualified residence interest, generally claimed by low- and middle-income filers on Schedule A,
Deduction for qualified tuition and related expenses claimed on Form 8917, and
Credit for nonbusiness energy property claimed on Form 5695 (Updated per IR2018-59).
Possible Scam Reporting of Elder Care Wages
Background: We received a report of a possible scam involving taxpayers claiming Elder Care Wages to receive a larger refund that includes refundable credits such as Earned Income Tax Credit. The taxpayers visiting the site provided a handwritten document claiming to be from an individual stating they paid the taxpayer for elder care.
The Site Coordinator has the discretion to decline tax preparation services if sufficient documentation is not provided by the taxpayer.
Message for Partners:
Be vigilant in identifying possible scams.
Report possible scams to your local SPEC representative.
Use the below reference documents to assist with reporting possible scams.
Refer to https://www.irs.gov/
individuals/how-do-you-report- suspected-tax-fraud-activity if you suspect an individual or a business is not complying with the tax laws.
TAS intake line experiencing long wait times
I was on our monthly SPEC call this morning and the IRS mentioned the following information that I thought is of interest. The Taxpayer Advocate Services main intake line (877#) is experiencing very high traffic which is resulting in long wait times. It sounds like the income verification is taking a lot longer than usual and taxpayers are experiencing even longer delays of their refunds. If you have a taxpayer with this issue and they need to speak to TAS, please have them call their local TAS office instead of the mainline to get through to a representative faster.
Quality Results through March 21 to help identify any potential issues at your sites
The IRS SPEC office has completed another review of the quality of VITA and TCE sites.Return to Trending Topics