Tax forms have now arrived at the Stillwater Public Library and tax assistance is on its way.
The AARP Tax Aides will begin their free tax preparation help on Monday, Feb. 4, and will provide help through Tuesday, April 15. The service is available in Stillwater Public Library’s Room 119 on Mondays and Wednesdays, 9:30 a.m.-4 p.m. and Tuesdays, 12:30-4 p.m. The assistance is available to any community member and does not have an age or income limitation.
Taxes aides ask that participants bring the following material:
- Previous year’s tax return(s).
- Social Security cards and/or ITIN notices/cards or other official documentation that show the taxpayer identification numbers for every individual on the return.
- Government-issued photo ID for each taxpayer is required.
- Checking or savings account information for those who want to direct deposit any refund(s) or direct debit any amounts due.
- W-2 for each employer.
- 1099-G form for unemployment compensation or state/local income tax refunds.
- SSA-1099 form showing the total Social Security benefits paid to the taxpayers for the year, or RRB-1099, Tier 1 Railroad Retirement benefits form.
- 1099 forms (or other statements) reporting interest (1099-INT), dividends (1099-DIV) and/or proceeds from sales (1099-B), plus documentation showing the original purchase prices for those who sold stocks or other assets.
- 1099-R form for those who received a pension, annuity, or IRA distribution.
- 1099-MISC, 1099-K, or other 1099 forms. For those who have a business, bring a summary list of all income (cash and non-cash) and all business-related expenses.
- Information about any other income of any form including cash or other than cash.
Records of any federal and/or state and/or local income tax paid (including quarterly estimated tax payments) if not shown on income documents.
- 1095-A forms for those who purchased insurance through the Marketplace (Exchange).
- 1095-B/1095-C forms (optional).
- Any exemption correspondence from the Marketplace (if applicable).
- Dependent care provider information – name, address, telephone number and employer ID or Social Security number and amount paid to provider.
- 1098-T form for education expenses plus statement of account from the educational institution showing tuition and fees actually paid and scholarships, grants, etc. received. Also bring a summary of any other education expenses.
- 1098-E form for student loan interest.
Most taxpayers have a choice of taking either a standard deduction or itemizing their deductions. Those who have a substantial amount of deductions may want to itemize. If so, bring the following information:
- 1098 form showing home mortgage interest.
- A summary list of medical/dental/vision expenses including doctor and hospital bills and medical insurance premiums, prescription medicines, assisted living services, long-term insurance and bills for medical related home improvements such as ramps and railings for people with disabilities.
- Summary of cash and noncash contributions to charity.
- Property tax bills paid during the year (frequently shown on mortgage statement).
Taxpayers must be present at the Tax-Aide site for assistance and sign Form 8879. If filing Married Filing Jointly, one spouse can be present but will need to obtain the other spouse’s signature and return with the form so that the signature can be verified by a Tax-Aide volunteer.
For community members preparing their own returns, the library has received the federal 1040 form packet and the 1040 instructions. The form packet includes the 1040 form as well as Schedule 1-6. The Oklahoma Tax Commission packets for both residents and non-residents have also arrived. Librarians may print any other forms and instructions needed for 10 cents per page.
Because the IRS no longer supplies the library with business forms, small businesses and those who use independent contractors should plan to contact the IRS for employment related forms, including the W-2, 1099 MISC and 1096. Employers may contact the IRS at 1-800-829-3676 to order copies or visit https://www.irs.gov/forms-pubs/order-products.
Listed tax form packets, instructions and AARP preparation services are free and open to the public on a first come, first served basis. No appointment is needed.
The Stillwater Public Library is located at 1107 South Duck.