Hang On To Your Full Refund

HANG ON to your full refund!

With The Ohio Benefit Bank, you can file your federal, state, and school district taxes on your own or with a trained counselor. Our service is:

  • Completely safe and secure, thanks to a direct link with IRS e-file
  • Simple to follow with step-by-step instructions
  • Extremely accurate, connecting you with all potential tax credits
  • Free for households with adjusted gross incomes less than $60,000

So don't lose any of your refund to Refund Anticipation Loans or unnecessary fees; instead, file with us and hang on to your full refund!

Learn more about: Common Tax Filing Myths --- Getting Your W-2 --- Tips and Tools for Saving

Common Tax Filing Myths

Don't believe everything you hear about filing your taxes-- it doesn't have to be hard! Here are some common myths about tax filing that often prevent tax filers from hanging on to their full refunds:

  • Filing your taxes is too difficult to do on your own. Filing your tax return doesn't have to be difficult! If you have basic internet navigation skills, our question-guided online service will walk you through the process step by step. The OBB makes it easy for anyone to file their taxes and hang on to their full refund!
  • Volunteer tax counselors are not properly trained; only paid preparers can be trusted. Our volunteer tax counselors all receive standardized training, about the same amount of training as many paid preparers. And even better, our online service asks the right questions to make sure that you receive all of your tax credits.
  • Free tax filing services won't get me my refund as quickly as paid preparers. By filing electronically with The Ohio Benefit Bank, you will receive your refund in 7 to 14 days, absolutely free! This is the same time frame as any paid preparer. So don't pay for a Refund Anticipation Loan; hang on and file with us!

Getting Your W-2

The IRS uses the W-2 Form completed by your employer(s) to verify the accuracy of your tax return. If you have earned income like wages or tips, your employer is required by federal law to provide you with access to your W-2 for tax filing purposes. Employers have until January 31 to send you a W-2 Form. Often, however, tax filers encouter difficulty when trying to obtain their W-2(s). Here are steps recommended by the IRS for obtaining copies of your W-2(s):

  • Contact your employer: Inquire about the status of your W-2. Sometimes, an incorrect or incomplet address can delay or prevent delivery. Allow a reasonable amount of time for them to resend the W-2 Form.
  • Contact the IRS: If you do not receive your W-2 by February 14th, contact the IRS for assistance at 800-829-1040. When you call, you should have your name, address, Social Security number, phone number, your employer's name, address, and phone number, the dates you were employed there, and an estimate of wages earned and tax withheld. (You can use your most recent pay stub for this estimate).
  • File your return: Even if you do not receive your W-2, you should still file by the IRS deadline. You should attach Form 4852, Substitute for Form W-2. Please note that their may be a delay in your refund so that the information can be verified.

Tips and Tools for Saving

Tax season is a great time to begin a new savings plan, both to prepare for emergencies and save for the future! We invite you to take a look at the following resources which offer great tips and tools for saving:

  • Pay off high-cost debt: The best investment most borrowers can make is to pay off consumer debt with double-digit interest rates. For example, if you have a $3,000 credit card balance at 19.8%, and you pay the required minimum balance of 2% of the balance or $15, whichever is greater, it will take 39 years to pay off the loan. With accumulating interest, you will pay more than $10,000 in interest charges. For additional information see the National Foundation for Credit Counseling website at www.debtadvice.org.
  • Pay off the mortgage before you retire: The largest asset of most families is their home equity. Once these families have made their last mortgage payment, they have far lower housing expenses. They also have an asset that can be borrowed on in emergencies or converted into cash through sale of the home.
  • Participate in a work-related retirement program: Many employees turn down free money from their employer by not signing up for a work-related retirement program such as a 401(k) plan. If they did participate, with a dollar-for-dollar match they would likely receive an annual yield of greater than 100% on their investment.
  • Outside of work, save monthly through an automative transfer from checking to savings: These savings will provide funds for emergencies, home purchase, school tuition, or even retirement. Almost all banking institutions will, on request, automatically transfer funds monthly from your checking account to a savings account, U.S. Savings Bond, or stock mutual fund. What you don't see, you will probably not miss.
  • Earn up to 2% or more on many CDs or U.S. Savings Bonds: Most CDs from a bank or credit union, and Series EE and Series I Savings Bonds, currently pay between 0% and 2%. With a 4% yield your money will double in 18 years. For additional information, please see the Treasury's Savings bond website, www.treasurydirect.gov
  • Plan ahead for the Holiday’s: Planning ahead can help alleviate some of the stress that accompanies this very exciting but busy time of the year. When you have enough money saved in the bank, giving gifts is a much more enjoyable experience all around. Additional information is available on www.choosetosave.org.