Have you seen the ads for "instant money," "rapid refunds," or "electronic refund advances"? These tax services often take a large part of your tax refund. Don't be fooled by flashy ads! What do these tax service companies really offer? They give you a very expensive loan. The interest rate on the loan can cost you from 173% to more than 200% interest per year!
There are other problems with these loans. What happens if the tax preparer makes a mistake? What happens is the IRS withholds your refund? You still have to repay interest on the loan you got from the tax service company.
Where to find information about the Vermont Earned Income Credit and food help.
Did you get the Vermont Earned Income Credit? Do you have children? Many families who get the EIC automatically qualify for 3SquaresVT (formerly food stamps). You just have to apply. Call the Department of Children and Families at (800) 287-0589.
The state of emergency declared in Vermont by President Barack Obama on Monday August 29, cleared the way for federal assistance to help the state deal with the immediate destruction wrought by Tropical Storm Irene.