Area January 12, 2011 THE VILLADOM TIMES III • Page 15 IRS offers tips on who must file a tax return You must file a federal income tax return if your income is above a certain level, which varies depending on your filing status, age, and the type of income you receive. Check the Individuals section of the IRS website at http://www.irs.gov or consult the instructions for Form 1040, 1040A, or 1040EZ for specific details that may help you determine if you need to file a tax return with the IRS this year. You can also use the Interactive Tax Assistant available on the IRS website to determine if you need to file a tax return. The ITA tool is a tax law resource that takes each individual through a series of questions and provides responses to tax law questions. There are some instances when you may want to file a tax return even though you are not required to do so. Even if you don’t have to file, here are several reasons you may want to: You should file to get money back if federal income tax was withheld from your pay, if you made estimated tax payments, or had a prior year overpayment applied to this year’s tax. Making Work Pay Credit: You may be able to take this credit if you earned income from work. The maximum credit for a married couple filing a joint return is $800 and $400 for other taxpayers. Earned Income Tax Credit: You may qualify for EITC if you worked, but did not earn a lot of money. EITC is a refundable tax credit; which means you could qualify for a tax refund. Additional Child Tax Credit: This refundable credit may be available to you if you have at least one qualifying child and you did not get the full amount of the Child Tax Credit. American Opportunity Credit: The maximum credit per student is $2,500 and the first four years of postsecondary education qualify. First-Time Homebuyer Credit: The credit is a maximum of $8,000, or $4,000 if your filing status is married filing separately. To qualify for the credit, taxpayers must have bought – or entered into a binding contract to buy – a principal residence located in the United States on or before April 30, 2010. If you entered into a binding contract by April 30, 2010, you must have closed on the home on or before Sept. 30, 2010. If you bought a home as your principal residence in 2010, you may be able to qualify and claim the credit even if you already owned a home. In this case, the maximum credit for long-time residents is $6,500, or $3,250 if your filing status is married filing separately. Health Coverage Tax Credit: Certain individuals who are receiving Trade Adjustment Assistance, Reemployment Trade Adjustment Assistance, or pension benefit payments from the Pension Benefit Guaranty Corporation, may be eligible for a Health Coverage Tax Credit worth 80 percent of monthly health insurance premiums when you file your 2010 tax return. For more information about filing requirements and eligibility to receive tax credits, visit http://www.irs.gov. Temple to host ‘Concert for Darfur’ Peace through Music: A Concert for Darfur, will take place Jan. 29 from 6 to 10 p.m. at Barnert Temple, 747 Route 208 South in Franklin Lakes. The coffee-house style acoustic concert will feature amateurs and professionals of all ages. The event will include prize baskets and contests. Food and beverages will be available for purchase. Tickets are $10 for adults and $5 for children under age 13, and may be purchased at the door or in advance. To obtain tickets in advance, contact Amanda Kroll, Glen Rock High School sophomore and the concert organizer, at alkviolin@verizon.net. Anyone interested in performing at the concert, may also contact Kroll. For information about the event or Barnert, contact Alice Berdy at (201) 8481027, or visit www.barnerttemple.org. ���������� ����������� In The Villadom TIMES, you’ll get the exposure you need in 56,000 homes right in your market area. And, as always, your Villadom TIMES advertising message is conveniently delivered each week by US mail to every residence in the 12 Bergen County towns listed below. Publication: WEDNESDAY WEDNESDAY �������������������������������������� ����������������������������� Deadline: January 19 January 26 January 12 January 19 YOUR NEIGHBORHOOD NEWSPAPER Call The Villadom TIMES today to place your advertisement. 201-652-0744 ZONE 1 - Wyckoff, Midland Park, Franklin Lakes ZONE 2 - Ridgewood, Glen Rock ZONE 3 - Ho-Ho-Kus, Allendale, Waldwick, Saddle River, Upper Saddle River, ZONE 4 - Ramsey, Mahwah