Coaching at your Library

Virginia Beach Central Library has now made coaching rooms available.  We have a number of coaches who are willing to meet with you by appointment.  To schedule an appointment for a coach, please contact the Financial Empowerment Office at:  757-385-3551

Financial Empowerment Newsletter Released

All the news you need from Financial Empowerment! 

Tax:  Did you know nearly $18 million of Earned Income Tax Credit goes unclaimed just in the city of Virginia Beach?  If that is you, you can still file and get those refunds even back three years!  Read the success stories of people who got their refund and filed for free!

Bank On: New classes beginning in April.  Get in on the action now!

Mayor's Challenge:  Ft. Story has joined the Mayor's Action Challenge so military members can now complete this challenge on post or by joining a Bank On Class in the community.

Virginia Save:  Almost $250,000 was committed in Virginia Saves just by our Virginia Beach residents!  Way to go.

To read more get your copy of the Financial Empowerment Newsletter!

Last-Minute Filers: Avoid Common Errors

Source: IRS

IRS YouTube Video: Tax Return Errors English | Spanish | ASL
Podcast: Tax Return Errors English | Spanish

WASHINGTON — The Internal Revenue Service today reminded taxpayers to review their tax returns for common errors that could delay the processing of their returns. Here are some ways to avoid common mistakes.

File electronically. Filing electronically, whether through e-file or IRS Free File, vastly reduces tax return errors, as the tax software does the calculations, flags common errors and prompts taxpayers for missing information. And best of all, there is a free option for everyone.

Mail a paper return to the right address. Paper filers should check the appropriate address where to file in or their form instructions to avoid processing delays.

Take a close look at the tax tables. When figuring tax using the tax tables, taxpayers should be sure to use the correct column for the filing status claimed.

Fill in all requested information clearly. When entering information on the tax return, including Social Security numbers, take the time to be sure it is correct and easy to read. Also, check only one filing status and the appropriate exemption boxes.

Review all figures. While software catches and prevents many errors on e-file returns, math errors remain common on paper returns.

Get the right routing and account numbers. Requesting direct deposit of a federal refund into one, two or even three accounts is convenient and allows the taxpayer access to his or her money faster. Make sure the financial institution routing and account numbers entered on the return are accurate. Incorrect numbers can cause a refund to be delayed or deposited into the wrong account.

Sign and date the return. If filing a joint return, both spouses must sign and date the return. E-filers can sign using a self-selected personal identification number (PIN).

Attach all required forms. Paper filers need to attach W-2s and other forms that reflect tax withholding, to the front of their returns. If requesting a payment agreement with the IRS, also attach Form 9465 or Form 9465-FS to the front of the return. Attach all other necessary schedules and forms in sequence number order shown in the upper right-hand corner.

Keep a copy of the return. Once ready to be filed, taxpayers should make a copy of their signed return and all schedules for their records.

Request a Filing Extension. For taxpayers who cannot meet the April 15 deadline, requesting a filing extension is easy and will prevent late filing penalties. Either use Free File or Form 4868. But keep in mind that while an extension grants additional time to file, tax payments are still due April 15.

Owe tax? If so, a number of e-payment options are available. Or send a check or money order payable to the “United States Treasury.”