Free tax assistance available until May 17th

For people who haven’t yet filed their federal and state income taxes, help is still available. The African Cultural Alliance of North America, Inc. (ACANA), in collaboration with the African Caribbean Business Council of Greater Philadelphia (ACBC), will provide free income tax preparation services to residents of Philadelphia and the surrounding Pennsylvania counties until May 17. The services also are available to self-employed independent contractors and small businesses.
The federal and Pennsylvania income tax filing deadlines for the 2020 tax year have been extended to May 17, 2021. Taxpayers can also postpone federal income tax payments for the 2020 tax year to May 17 without penalties and interest regardless of the amount owed. This also applies to self-employment tax. In addition, taxpayers who need more time to file past the May 17 deadline can file for an extension until October 15.
“This is an important year for filing taxes,” explained Mamapalo Mokeyane, ACBC project manager. “The CARES Act included several new tax options to help small businesses affected by the pandemic. If you didn’t file last year, you can still file for past years’ taxes and receive up to 3 years of refunds. Even if you’re usually a non-filer, you need to file electronically to get your stimulus payments. Our CPAs want to make sure people get all of their payments and refunds. ”
Under the CARES Act, tax help for the self-employed: Allows taxpayers to carry Net Operating Losses from 2018, 2019, and 2020 back up to five years if your business lost money due to the pandemic. Businesses that helped idle workers on payroll during the pandemic may qualify for an employee retention tax credit worth half of the employee’s wages and health plan costs. The Act also allows employers to defer payment of their share of 2020 payroll taxes. Deferred amounts must be paid by December 31, 2021, and at that time, 50% is due and, the remaining 50% due by December 31, 2022.
Taxpayers who need help must call 215-729-8225 to book an appointment to drop off their tax documents at the ACANA office located at 5530 Chester Avenue. Masks are required. Mokeyane said tax filers must submit the following documents:
• Identification (driver’s license, state or federal ID card, passport, Green Card or naturalization certificate)
• Social Security number (original or a document that contains it)
• Income documents (W-2, 1099, unemployment compensation, pension distributions, IRA withdrawals, Social Security benefits statement)
• Healthcare (form 1095 A, B or C, medical expenses, exemption certificate)
• Childcare (year-end statement, provider employer number)
• Home (property tax, mortgage interest)
• Education (form 1098-T, list of college or trade school tuition)
• Other expenses (charitable contributions, business-related expenses)
For more information call or email questions to ACBC taxprep@acbcphilly.net.
SBA Shuttered Venue Operators Grant
The Shuttered Venue Operators Grant (SVOG) program was established through the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act and amended by the American Rescue Plan Act to provide over $16 billion in economic relief to target industries. The business must have been in operation as of February 29, 2020. The SVOG application opened on April 8.
Businesses eligible include live venue operators, promoters, theatrical producers, live performing arts organization operators, museum operators, motion picture theatre operators, and talent representatives. Venues owned by state or local governments (for example, museums or historic homes) are eligible to apply if the government-owned entity also acts solely as a venue operator, museum, etc., and does not also include other types of entities. Mobile, portable, or a touring facility, including traveling tent shows such as circuses and festivals that meet all the space-related requirements in the Economic Aid Act will be considered an SVOG-qualifying venue. Businesses that received Paycheck Protection Program loans are still eligible to apply for SVOG grants. Businesses that received pandemic-related or other assistance from state or local governments also are eligible.
However, venues with no fixed performance space are not eligible. Eligible businesses must have defined performance and audience spaces. More than 10% of its 2019 gross revenue cannot have come from the federal government (not counting disaster assistance). For more information on requirements and to apply for the SVOG visit https://www.svograntportal.sba.gov/s/.