January 23, 2017 marked the first day to submit a tax return for 2016. With the hustle and bustle of tax season, we want to make sure every single eligible South Carolinian has the knowledge and the resources they need to file their taxes at no cost through The Benefit Bank of South Carolina, a program of SC Thrive.
Who can file with SC Thrive?
Anyone with an Adjusted Gross Income (AGI) of $65,000 and filing individually or $95,000 and married filing jointly can use The Benefit Bank of South Carolina to file their taxes. There are some limits to filing with us (We can’t help with Schedule C-EZ, filing amended returns and other specific situations), but most tax filers have no problems. If you want to see a full list of limitations, you can click here!
Why should I 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.
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 a few reasons why you may want to:
- You might get a refund You should file to get money back if Federal Income Tax was withheld from your pay, you made estimated tax payments, or had a prior year overpayment applied to this year’s tax.
- You may qualify for tax credits There are a number of tax credits for which you may qualify. Credits such as the Making Work Pay Credit, the Earned Income Tax Credit, The Additional Child Tax Credit and the American Opportunity Credit can drastically increase your refund.
- You can set yourself up for financial freedom If you receive a tax refund, you can use monies received to start a rainy day fund, pay off debt, begin a college fund, establish a retirement fund or start saving for a home. Achieving your financial goals for your family can start with something as simple as your tax return!
How can I file with SC Thrive?
You can file your taxes with SC Thrive two ways:
- File Your Own Taxes You can file your own taxes from the comfort of your own home, or wherever you have access to a computer and the internet. Using The Benefit Bank’s Self-Serve option, you can file any time of day on your own. Our system is safe, easy to use and intuitive, so filing your taxes is a breeze.
- File with an SC Thrive Tax Counselor If you don’t want to file your own taxes, you can find a trained SC Thrive Tax Counselor in your community through our Site Locator. Our Tax Counselors are knowledgeable individuals who can help you submit an accurate return to the IRS.
You can start your tax return or find an SC Thrive Tax Site today at scthrive.org/filetaxes