Free Tax Filing Assistance
WATAPUR Human Service Organization is dedicated to assisting low-income individuals and the Afghan community in Illinois by providing free tax consulting services. Our goal is to ensure accurate and timely filing of taxes for those we serve. In addition to offering personalized consultations, we connect individuals with IRS partners to facilitate free tax filing for those who are eligible.
To empower our community with essential knowledge, we conduct workshops covering topics such as tax security, data theft prevention, and strategies to maximize refunds. Our aim is to enhance financial literacy and equip individuals with the tools to make informed decisions regarding their taxes.
Furthermore, we provide information on various aspects of tax law, emphasizing the importance of fulfilling our responsibility to pay taxes on time. By offering comprehensive support and education, WATAPUR seeks to contribute to the financial well-being of our community members.
If you have any specific questions or if there's a particular aspect you would like more information about, please feel free to let us know. We are here to assist you in navigating the complexities of tax-related matters.
Important Tax Forms and Their Usage
1. W-4 Form: Employee's Withholding Certificate
Usage Before Employment: The W-4 form is typically completed by employees when they start a new job. It helps employers determine the correct amount of federal income tax to withhold from each paycheck.
Key Information: Employees provide details such as marital status, number of dependents, and any additional withholding preferences. The information helps calculate the appropriate tax withholding.
2. W-2 Form: Wage and Tax Statement
Usage at the End of the Year: Employers issue W-2 forms to employees at the end of the calendar year. This form reports the employee's annual wages and the amount of taxes withheld.
Key Information: The W-2 includes details such as total wages, federal and state income tax withheld, Social Security and Medicare taxes paid, and contributions to retirement plans. Employees use this information to prepare their individual income tax returns.
3. 1099 Form: Miscellaneous Income
Usage at the End of the Year: Individuals who are not employees but receive income, such as freelancers or independent contractors, receive a 1099 form from the payer. This form reports income earned from various sources.
Key Information: The 1099 form includes details on non-employee compensation, dividends, interest, and other income. Recipients use this information to report their income on their individual tax returns.
Tips for Individuals:
- Ensure that your W-4 form is updated whenever there are changes in your personal or financial situation to avoid overpaying or underpaying taxes throughout the year.
- Keep copies of your W-2 and 1099 forms for your records.
- If you receive a 1099, be aware of any additional tax responsibilities, such as self-employment taxes.