1a, Wi-Z, & Telefile Wisconsin Income Tax Instructions Page 4
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322B
How to Avoid Losing Part of Your Refund
In 2003, more than 114,000 Wisconsin taxpayers paid
Here are some tips on how to avoid a RAL:
an estimated $28.5 MILLION in Refund Anticipation
• Open a checking or savings account. If you do
Loans (RAL) and associated fees. A RAL is not a quick
not have a checking or savings account, consider
refund. It is actually a short-term
opening one so your refund can be electronically
loan with an average annual
deposited. Many banks and/or credit unions will
percentage rate (APR) of 512%.
set up a checking or savings account for free.
Before electronic filing, when it
• E-file and request direct deposit. When you e-file,
would take several weeks to
request the IRS and the state to electronically
process a paper tax return, a RAL
deposit your refund directly into your checking or
was an attractive, timely option to
savings account. It typically takes 10 business days
a family in need of money. But
for the IRS and within 5 business days for the state
with today’s electronic filing, you
to process and electronically deposit your refund.
can receive your refund electroni-
• Visit a free tax preparation site. Trained volun-
cally within 5 days from the state
teers will prepare your tax return for free and many
and 10 days from the IRS. All at
sites will file your return electronically to speed up
no cost to you. So keep all your
your refund. For more information read the “Free
eligible refund and do not become
Tax Preparation Available” article below.
part of an unfortunate statistic.
Free Tax Preparation Available
(commonly referred to as VITA or TCE)
Need help filing your taxes?
Who can use VITA services?
Wisconsin residents can have their taxes
• Low and moderate income individuals
prepared for free at any IRS sponsored
• Individuals with disabilities
Volunteer Income Tax Assistance (VITA) site
or at any AARP sponsored Tax Counseling for
• Elderly
the Elderly (TCE) site. These two programs
• Individuals who qualify for the Homestead Credit or the
have helped millions of individuals across the
Earned Income Tax Credit
country in preparing their taxes. Trained
volunteers will fill out your tax return and many
What should you bring?
sites will even e-file your return. The entire
service is free.
• W-2 wage and tax statements
• Information on other sources of income and any deductions
• Social Security cards of taxpayer(s) and dependents
• To claim the Homestead Credit, bring a completed rent
certificate (if you are a renter), a copy of your 2005 property
tax bill (if you are a homeowner), and a record of any
Wisconsin Works (W2) payments received in 2005
• Both spouses must be present to file a joint return
VITA and TCE locations:
• In Wisconsin, call or 1-800-829-1040
• On the web, visit and type in “VITA sites”
in the Search box
• Call the AARP at 1-888-227-7669
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