Should you do your own taxes this year? Here's some helpful advice

9:18 PM, Jan 31, 2011   |    comments
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"This year is a bigger headache than any year, perhaps than any year in the past because Congress was so late in getting credits and deductions set up," says Jerry Weinstein, head of The Department of Accounting at JCU.

"The IRS, as you may know, is not even able to accept tax returns that have itemized deductions or that are claiming child tax credit because things took shape so late."

You should base your decisions on whether to use a CPA, H&R Block, TurboTax or others not on how much you make, but how complicated your return will be.

"Are you self-employed, do you have rental properties, do you own a home, did you pay for education this year, did you sell stock this year, did you buy new windows or a new furnace for a home energy tax credit? The more of those you have done, the more complicated your return will be and the more helpful a Certified Public Accountant may be."

He says those that need the most assistance and should use professional help are, typically, those who can afford it least. Which is why the IRS offers the VITA program, a program that will provide those making less than $50,000 a year free assistance in getting their taxes done.

The VITA program helps people of all backgrounds get their taxes filed with the help of a professional.


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