taxes

The Takeaway: Congress Talks Trimming Tax Breaks for Retirement Savers

Posted on 04/18/2012 by Elizabeth Brown | Brooklyn, NY | Comments

News RoundupsTough on Tax Breaks? Members of Congress gathered Tuesday to begin considering changes to the U.S. tax code. Great, right? Everyone agrees the American tax code is absurdly complicated and could use some reforming. Unfortunately, that’s where the agreement tends to end. Overhauling the tax code—which could begin as soon as next year—is bound to bring difficult trade-offs. Just consider one of the first area lawmakers are targeting: Tax breaks on retirement savings.

10 Weeks of Service: The Life of a Tax-Aide Volunteer

Posted on 04/3/2012 by Jen Martin | Volunteering | Comments

VolunteeringThis is a guest post by Jo Ann Jenkins. Jenkins is the president of AARP Foundation. She provides leadership across the Foundation areas of development, litigation, and impact program areas. HELP WANTED: Looking for someone to prepare individual state and federal tax returns. At least one week of training–and homework — required, along with passing three progressively difficult IRS test levels plus an IRS ethics test and any state-required exams. Must be flexible yet willing to work up to 40+ hours a …

Caregiver Tax Deductions

Posted on 03/7/2012 by Sally Abrahms | Caregiving | Comments

Caregiving | Home & Family | Money & SavingsAccording to an AARP study, the economic value of U.S. family caregivers for their unpaid contributions in 2009 was around $450 billion. What if there were a way to get tax credits for those good deeds? There might be. You may be able to claim your parent (or grandparent, stepparent, mother- or father-in-law, sibling, step-sibling or half-sibling) as a dependant on your tax return and reduce your taxable income by $3,700. If not, you might qualify for a deduction for …

Get Your Taxes Done For Free – Quick and Easy With AARP!

Posted on 02/8/2012 by AARP Illinois | All the news that matters for Illinoisans over 50. | Comments

Your LifeHola, Jenn from the Comms team here letting you know about a great AARP Foundation program, the AARP Foundation Tax-Aide program. I seriously love this program and our Tax-Aide volunteers. Let me tell you why. The AARP Foundation Tax-Aide program is nationwide. No matter where you live, there is usually a site near you. Sites are open from February 1st through April 15th. Tax-Aide is run by fully trained and IRS-certified volunteers who love their work. Tax-Aide is completely FREE. …

The Takeaway: IRS Cracking Down On Underreported Retirement Income

Posted on 02/8/2012 by Elizabeth Brown | Brooklyn, NY | Comments

News RoundupsDetermining whether retirement savings withdraws are taxable, partially taxable or tax-free can be difficult. A lot of retirees get it wrong—and the federal government is doubling down on efforts to correct them.

AARP Tax-Aide Program Offers Free Tax Preparation Assistance

Posted on 02/7/2012 by Raquel "Rocky" Egusquiza | Washington D.C. | Comments

Money & SavingsFor many of us, the first quarter of the year is usually synonymous with tax season. Soon, 1099 and W-2 forms will start to hit mailboxes around the country. Have you begun preparing your paperwork? Tax season is a stressful time for many, but AARP is here to help: AARP Foundation Tax-Aide helps low- to moderate-income taxpayers have more discretionary income for everyday essentials, such as food and housing, by assisting with tax services and ensuring they receive applicable tax …