5JSunday Gazette-Mail, February 8, 2009

CYANMAGENTAYELLOWBLACK

CYANMAGENTAYELLOWBLACK5J 5J

By Alison KnezevichStaff writer

Tax time is always stressful,but this year, the tumultuouseconomy might make it evenmore confusing for many peo-ple.

Various free programs areavailable in the state to help sen-ior citizens and low- to middle-income residents prepare theirincome taxes.

“Anyone who has gone to acommercial tax preparer knowshow expensive that can be,”said Ginger Thompson Mc-Daniel, associate state directorfor AARP of West Virginia.

Through the AARP Founda-tion Tax Aide program, certifiedvolunteers offer free one-on-onecounseling to middle- and low-income taxpayers, with a specialfocus on people age 60 and old-er. Online help is also availableyear-round at www.aarp.org/money/taxaide/.

“It’s particularly important forpeople who may be on a fixedincome,” Thompson McDanielsaid. “[The volunteers] will checkto make sure that they get all ofthe credits that they are entitledto.”

Six Tax Aide sites are avail-able in the Kanawha Valley.Some locations have changedsince last year, so check the listcarefully, Thompson McDanielsaid. The program could still usemore volunteers. Call 304-340-4605 to help out.

A similar IRS program calledthe Volunteer Income Tax As-sistance (VITA) also providesfree help to low- to moderate-in-come people, meaning $42,000and below.

Volunteers staff numerousVITA locations throughout WestVirginia, often at communitycenters, libraries and churches.

With so many layoffs in thepast year, many people mayqualify for the Earned IncomeTax Credit even if they haven’tin the past, said IRS spokesmanEric Erickson.

The VITA sites specialize inthe EITC — a refundable feder-al income tax credit for low- tomoderate-income working peo-ple — and can help ensure thatthose who qualify for it receivethe extra money when their re-turns are prepared, Ericksonsaid.

Keep in mind that the pro-grams are designed for peoplewith relatively simple tax re-turns, Erickson and ThompsonMcDaniel say. The volunteerscannot help with some forms, in-cluding Schedule C (profit and

loss from business); complicat-ed and advanced Schedule D(capital gains and losses); Form2106 (employee business ex-penses) and Form 3903 (mov-ing).

AARP Tax Aide sitesThe AARP Tax Aide sites are

open Feb. 2 to April 15 at thefollowing locations:

■ Southeast Church of theNazarene, Kanawha City, 10a.m. to 3 p.m., Tuesday, Wed-nesday and Thursday.

■ South Charleston Library, 1to 5 p.m., Monday and Friday.

■ Dunbar Library, 10 a.m. to2 p.m. Tuesday and 1 to 4 p.m.Wednesday.

■ Hansford Senior Center, St.Albans, 1 to 4 p.m., Monday andFriday.

■ Nitro Senior Center, 1 to 4p.m., Tuesday and Wednesday.

■ Henson Senior Center, Hur-ricane, 1 to 4 p.m., Monday,Thursday and Friday.

Checklist: What to bringfor tax prep

■ Proof of identification■ Social Security Cards for

you, your spouse and depend-ents and/or a Social SecurityNumber verification letter is-sued by the Social Security Ad-ministration

■ Birth dates for you, yourspouse and dependents on thetax return

■ Current year’s tax packageif you received one

■ Wage and earning state-ment(s) Form W-2, W-2G, 1099-R, from all employers

■ Interest and dividend state-ments from banks (Forms 1099)

■ A copy of last year’s feder-al and state returns if available

■ Bank routing numbers andaccount numbers for direct de-posit

■ Total paid for daycare pro-vider and the daycare provider’stax identifying number (theprovider’s Social Security Num-ber or the provider’s businessEmployer Identification Num-ber)

■ To file taxes electronicallyon a married-filing-jointly taxreturn, both spouses must bepresent to sign the requiredform.

Reach Alison Knezevich atalisonk@wvgazette.com

or 304-348-1240.

Many free programsavailable to helpwith tax preparation

For the IRS Volunteer Income Tax As-sistance program, call 1-800-829-1040 to locate the site closest toyou.

T A X A S S I S T A N C E

Savings bonds offersafety, good returnsin uncertain marketsBy Susan WilliamsStaff writer

Most returns on any kind ofsavings account right now canbe described as dismal.

In the good old days, banksand credit unions paid 3, 4 oreven 5 percent on savings. And,of course, returns on stocksonce were the stuff of legends.

Now you may receive penniesfor the dollars you have in bankand credit union accounts, andlet’s not even talk about stockmarket returns.

These days, the good, old-fashioned U.S. Savings Bond islooking good.

Savings bonds can be easilypurchased at many banks andeasily cashed at the same.

They are also safe, if anythingcan be said to be safe in U.S.financial markets today.

The paper EE Bonds earn afixed rate of return for bondspurchased between now andApril. Currently, that fixed rateis 1.30 percent interest. Obvi-ously, that is nothing to bragabout, but when compared todouble-digit market losses, thatskinny 1.30 starts to look betterall the time.

You can purchase bonds inamounts from $50 to $10,000.You pay half of the bond’s facevalue when you purchase it. Forexample, if you order a $100bond, you need only pay $50 forit.

You can fill out a form at yourbank, and bank staff will inturn send your application andmoney to the federal govern-ment.

Do not be alarmed when your

envelope arrives from the Bu-reau of Public Debt. This justmeans that the government nowowes you the money for thebond.

Place that paper bond in asafe place and hold onto it fora least five years before you tryto cash it in. If you cash it in ear-lier, you will suffer an interestpenalty. But you can cash it inpenalty free after five years. Thebond will not be fully mature infive years, but if you need themoney, you can cash it.

Bonds make good gifts forchildren. If you start buyingbonds when a child is first born,these can help with college ex-penses.

If you want the bond to beused for a child’s education, youmay put your spouse’s name onthe bond when you register it,in case one of you should die be-fore the bond matures. But donot list the child as a co-owner.You can list the child as a ben-eficiary.

All of these specifics aboutbonds can be found at the Website TreasuryDirect.

You can also download bondapplications at that site.

Reach Susan Williams at susanwilliams@wvgazette.com

or 304-348-5112.

Paper EE Bonds earn afixed rate of return for

bonds purchasedbetween now and April.Currently, that fixed rateis 1.30 percent interest.

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whom has met strict ethical and production requirements to qualify. MDRT members represent more than 500 insurance companies in 51hom has met strict ethical and production requirements to qualify. MDRT members represent more than 500 insurance companies in 51

every year to continue their affiliation with the Million Dollar Round Table.every year to continue their affiliation with the Million Dollar Round Table.

credited Estate Planner

YING MEMBER To become a “Qualifying” member, the applicant must meet all the rules for membership qualification for eachnsecutive years, or for each of any three years within a period of five consecutive years.

YING AND LIFE MEMBER To become a “Qualifying and Life” member, the applicant must have achieved “Qualifying”hip for an aggregate of 10 years and meet the yearly production requirements.

MBER Once “Qualifying and Life” membership has been attained, a member may choose to apply as a “Life” member withoutyearly production requirements.

Life Underwriting Training Council Fellow

artered Life UnderwriterChartered Financial Consultantrtified Financial Plannergistered Health Underwriterertified Long Term Care ConsultantOF THE TABLE - Court of the Table is based on three times the MDRT production requirement.OP OF THE TABLE - 6 Times MDRT Production

Lines Ferguson, Jr.CLTC

Qualifying &Life Member

New York Life

17 Years

340-4350

John E. PauleyCLU, ChFC, CLTC

Life MemberNew York Life

24 Years

345-4343

nk E. Kesselring, III, CLTC, Premier Agentalifying Member

e Prudential Insuranceompany of America,ark NJ and its affiliates

8 Years

727-7146FS-A143092 ed 1/2008

Joseph H. SpanoQualifying Member

MetLife

4 Years

437-8900

William SeiberMBA, CLU, ChFC, RHU

Life MemberSeiber Insurance &

Financial Svcs.

15 Years

776-6597

John W. NicholsQualifying MemberPoca Valley Financial

5 Years

927-2667

Charles E. SmithLUTCF

Life MemberWestern-Southern Life

14 Years965-5643

Ext. 103

Randy YoungQualifying MemberWestern-Southern Life

1 Year

965-1056

Mitchell SmithQualifying MemberPoca Valley Financial

2 Years

984-9287

Roger A. ChambersPremier Agent

Qualifying &Life Member

The Prudential InsuranceCompany of America

26 Years

727-7146IFS-A143092 ed 1/2008

James S. DobbsCLU, ChFCLife MemberNorthwesternMutual Life

32 Years

342-8117

Don WilliamsonLUTCF

Qualifying MemberPoca Valley Financial

9 Years

965-5500

Jefferson JarrellCLU, LUTCF

Qualifying & Life Member

Metlife

10 Years

757-1021