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WASHINGTON – As April approaches, Sen. Tom Carper (D-Del.) wants to provide Delawareans with the information and resources they need to file their taxes in an easy and timely manner. This year, the Internal Revenue Service (IRS) has made filing taxes easier than ever. The deadline to file is April 15, 2014, except for taxpayers who are granted a six-month extension who will have until Oct. 15, 2014 to file. If you need assistance at any time, please visit http://www.irs.gov/ or call toll-free 1-800-829-1040.

“The IRS resources below help give taxpayers the information they need to ensure their taxes are filed on time and with as little hassle as possible,” Sen. Carper said. “I encourage all eligible Delawareans to take advantage of these useful tools that will save them time and money on the tax preparation process and ensure that their federal income tax returns are filed without a hitch.”

Resources

Below you’ll find links to useful resources and updated information provided by the IRS:

  • 1040 Central – This clearinghouse provides all the information you need to know to file your 1040 quickly and easily.
  • Tax Tips – Find tips to make your filing process as easy as possible.
  • Tax Information for Individuals – If you’re filing as an individual, this page helps you find relevant forms and information.
  • Free File – This feature shows you how to do your federal taxes for free.
  • EL IRS en Español – Full list of Spanish-language tax resources.

For face-to-face tax help in Delaware, please contact the IRS Taxpayer Assistance Centers below:

  • Dover: 611 S. Dupont Hwy., Dover, DE 19901, (302) 678-2784
  • Georgetown: 21309 Berlin Rd. Unit 13, Georgetown, DE 19947, (301) 695-7615
    • Hours: Monday-Friday, 8:30 a.m. – 4: 30 p.m. (Closed between 12:30 p.m. - 1:30 p.m.)
    • Services provided
  • Wilmington: 844 King St., Wilmington, DE 19801, (302) 573-6343

Small Business Health Care Tax Credit

Starting in 2010, the Affordable Care Act’s sought to make health insurance more affordable for small businesses by offering a small business health care tax credit. For small business owners, the IRS has a worksheet designed to help small businesses and tax-exempt organizations determine whether they are eligible for this new tax credit.

Both small businesses and tax-exempt organizations will use Form 8941 to calculate the small business health care tax credit. The business will then include the amount of the credit as part of the general business credit on its income tax return.

Tax-exempt organizations will instead claim the small business health care tax credit on Form 990-T.

The credit is generally available to small employers who contribute an amount equivalent to at least half the cost of health insurance premiums for their employees who have enrolled in a qualified health plan offered through a Small Business Health Options Program (SHOP) Marketplace. The credit is specifically targeted to help small businesses and tax-exempt organizations that primarily employ moderate- and lower-income workers.

This is the final year that the maximum credit is 35 percent of premiums paid by eligible small business employers and 25 percent of premiums paid by eligible employers that are tax-exempt organizations. Beginning next year, the maximum tax credit will go up to 50 percent of premiums paid by eligible small business employers and 35 percent of premiums paid by eligible, tax-exempt organizations for two years.

The maximum credit goes to smaller employers – those with 10 or fewer full-time equivalent (FTE) employees – paying annual wages of $25,000 or less. Two half-time workers are equivalent to one FTE. Examples of employers receiving the credit can be found on this page.

The credit is completely phased out for employers that have 25 FTEs or more that pay average wages of $50,000 per year or more. Because the eligibility rules are based in part on the number of FTEs, and not simply on the number of employees, businesses that use part-time help may qualify even if they employ more than 25 individuals.

More information about the credit, including a step-by-step guide and answers to frequently asked questions, is available on the Affordable Care Act website.

Additional Resources

Additionally, the IRS Volunteer Income Tax Assistance Program (VITA) and the Tax Counseling for the Elderly Program (TCE) offer free, in-person tax help for those who qualify. The VITA Program offers free tax help to low- to moderate-income people who cannot prepare their own tax returns. The military also has a strong VITA program, administered by the Armed Forces Tax Council. In addition, airmen, soldiers, sailors, marines, guardsmen, and their families worldwide receive free tax preparation assistance at offices within their installations. To locate the nearest VITA site, call 1-800-906-9887. The TCE Program provides free tax help to people aged 60 and older. For more information on TCE, call 1-888-227-7669 or use the AARP Site Locator Tool.

For more information on VITA/TCE aid for senior citizens, members of the military, or low- to moderate-income earners, please visit the VITA/TCE information page.