Business & Tech

Credit Union Offers Free Tax Help

Bethpage Federal to provide tax volunteers to help prepare returns for low-moderate income filers.

Beginning Wednesday, will help low- to moderate-income households on Long Island prepare their tax returns for free.

For the ninth year, BFCU will offer the government’s Volunteer Income Tax Assistance (VITA) program at 12 of its branch locations.

The credit union will make 150 IRS certified volunteers, including bilingual tax assistors, available to meet with eligible taxpayers with 2011 incomes of $49,000 and below. One need not be a Bethpage member to qualify. VITA services will be available on Wednesday evenings and Saturday afternoons in Bethpage’s Freeport, Hempstead, Massapequa, Elmont, Westbury, Roosevelt, Bay Shore (2 locations,) Farmingdale, Central Islip, Patchogue, West Babylon and Riverhead branches.

For specific times and branch addresses, go to www.lovebethpage.com or call 1-800-628-7070.

Bethpage has also joined with the Health and Welfare Council of Long Island to help educate eligible taxpayers about the Earned Income Tax Credit (EITC), which each year goes unclaimed for thousands, and could bring an additional $7,476 into the hands of deserving Long Island families.

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VITA volunteers will work with taxpayers to ensure that eligible families know how to claim their Earned Income Tax Credit. Currently, according to the IRS, 20 percent of Long Islanders are eligible to receive the EITC because of and

“Both VITA and EITC are vital government programs that can help working-class families here on Long Island receive deserving refunds and credits, and ultimately provide a financial boost to the Long Island economy," said Linda Armyn, Bethpage Senior Vice President of Corporate Strategy.

In 2011, Bethpage completed 1,295 VITA tax returns, and IRS total refunds of nearly $1.8 million (up from 1,100 returns in 2010).

Under the guidelines of the VITA program, Bethpage coordinates the services of its volunteers, who are trained by the IRS to electronically prepare all specific forms including, among others, 1040EZ, 1040A, and 1040.

Bethpage is also an e-file site where taxpayers can file their income tax returns electronically.  E-filers will receive refunds twice as quickly as those using paper returns in as little as 10 business days when they choose direct deposit Taxpayers who do not have a direct deposit account and wish to receive payment in this format can open a Bethpage account when filing their tax returns.

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Qualifying taxpayers planning to take advantage of Bethpage’s VITA program need to bring the following materials with them for review:  2011 tax package of wage and earnings statements (Form W-2), all interest and dividend statements (Form 1099-INT), all other income and expense information, a copy of last year’s Federal and State returns if available, bank routing and account numbers for Direct Deposit, total paid for daycare and provider’s tax ID, social security cards for you, your spouse and dependents and as well as photo identification. To file taxes electronically on a married filing joint tax return, both spouses must be present.

For more information on VITA and paperwork needed, please visit Bethpage’s “Volunteer Income Tax Assistance Program” page located under the Heart of Bethpage section at www.lovebethpage.com or call 1-800-628-7070.

a not-for-profit financial cooperative, is Long Island's largest credit union with over 196,000 members, 26 branches and 60 shared service center locations throughout Nassau and Suffolk Counties. 

Bethpage has branches in Bay Shore, Bethpage, Central Islip, Commack King Kullen, Elmont, Farmingdale, Freeport, Glen Cove, Hempstead, Huntington, Levittown King Kullen, Lynbrook, Massapequa, Melville, Mineola, North Babylon, Patchogue, Port Jefferson, Riverhead, Seaford, Smithtown, Roosevelt, West Babylon and Westbury with over 350 surcharge-free ATMs in King Kullen, , and Costco locations throughout Long Island.

For more information, call 1-800-628-7070 or visit www.lovebethpage.com.


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