The IRS's Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs offer free basic tax return preparation to qualified individuals.

The VITA program has operated for over 50 years. VITA sites offer free tax help to people who need assistance in preparing their own tax returns, including:

• People who generally make $58,000 or less

• Persons with disabilities; and

• Limited English-speaking taxpayers

In addition to VITA, the TCE program offers free tax help, particularly for those who are 60 years of age and older, specializing in questions about pensions and retirement-related issues unique to seniors.

While the IRS manages the VITA and TCE programs, the VITA/TCE sites are operated by IRS partners and staffed by volunteers who want to make a difference in their communities. The IRS-certified volunteers who provide tax counseling are often retired individuals associated with non-profit organizations that receive grants from the IRS.

VITA/TCE services are not only free, they are also a reliable and trusted source for preparing tax returns. All VITA/TCE volunteers who prepare returns must take and pass tax law training that meets or exceeds IRS standards. This training includes maintaining the privacy and confidentiality of all taxpayer information. In addition to requiring volunteers to certify their knowledge of the tax laws, the IRS requires a quality review check for every return prepared at a VITA/TCE site prior to filing. Each filing season, tens of thousands of dedicated VITA/TCE volunteers prepare millions of federal and state returns. They also assist taxpayers with the preparation of thousands of Facilitated Self-Assistance returns.

Bloomington Housing Authority
104 E. Wood Street
Bloomington, IL 61701
309-830-4832
Volunteer Prepared Taxes
Get Directions and Service Details
January 31 - April 9, 2022

Normal Township ARC
600 East Willow St.
Normal, IL 61761
309-888-9099
Volunteer Prepared Taxes
Get Directions and Service Details
February 11 - April 8, 2022

We have been reading a lot about what the experts think might be in store for 2022, and it seems that many remain cautiously optimistic (even in light of the challenging start!). They feel that the backdrop remains in place for the economy to continue to bounce back and heal from COVID, with relatively low interest rates and strong consumer spending.

Of course, everyone is keeping an eye on how inflation could impact that and how well the Fed will manage the need to raise interest rates from these historically low levels. And no one quite knows how this next phase of the pandemic will play out or whether other factors, like geopolitical threats (e.g. the Russia/Ukraine situation) or the ongoing polarization in Washington, will be bigger impediments to economic growth than expected.

The good news is that managers are still finding pockets of the market where they think money can still be made without taking outsized risk. That might be more challenging in the fixed income markets, but we will look to our trusted partners in that space to help us manage through. We will continue to provide our perspective as we move through the year and encourage you to reach out as you have questions or concerns.

Since I (Darrell) turned 50 last year, I am now keenly aware of the changes to catch up provisions allowed by IRAs, Roth IRAs & 401k/other employer retirements plans. One of the perks of getting older I guess!

For 2022, here are the allowable contributions to those plans:

• Traditional IRA: $6,000 + $1,000 Catch Up if Age 50 or older

• Roth IRA: $6,000 + $1,000 Catch Up if Age 50 or older

• SIMPLE IRAs: $14,000 + $3,000 Catch Up if Age 50 or older

• 401k/403b/457: $20,500 + $6,500 Catch Up if Age 50 or older *

  * for 403b and 457, catch up may be capped

The start of the year is a great time to assess whether you can increase your retirement deferrals or contributions, especially if you have reached that magic Age 50 threshold.

Here’s to a great start to the year!!!!

We were recently asked our advice about Identity Theft Protection – what should they look for and what should they avoid.

Good news! Identity Theft Protection plans aren't too expensive.

Based on the reading/research we’ve done, and our experience in talking with people that are familiar with the risk here where we live (e.g. we had a police detective come in to talk to us a few years back about identity theft), I would put this type of protection in the "peace of mind" category.  

It doesn't appear that this sort of protection is absolutely necessary based on the risk for most of our clients, but at the same time, we know that often times it helps people to sleep better if they know they have some back up.  

If you decide you want it for peace of mind, we would suggest a family base plan...that should give you adequate coverage.

And there are other things that we recommend for people to make sure they are being smart in protecting their identity/other kinds of fraud:

·        Sign up for some sort of credit monitoring service, e.g. Credit Karma (free), that alerts you if someone tries to open an acct, et al. using your SSN and tracks your credit rating overall (note: often times credit cards have this sort of service, too, as part of our membership mgmt, so you could start by contacting them to see what they offer for free as well)

·        Be watchful in how/when you use any debit cards  - the detective told us that far and away the biggest incidences of fraud that they see is stolen debit card info...the biggest tip for avoiding that was to never use a debit card when you can't see the transaction processed right in front of you.

·        Never respond to or give away personal information over the internet or via email until you have verified, reverified and verified again the entity or portal that is asking for it (this is probably the most common way we know of that people have their information stolen.) A good rule is to run it by someone else before you respond to any inquires for personal information as a sort of check.

One of the great joys I have experienced in the past few years has been being able to be a volunteer in the E-Learning Friendship English Conversation Program through the Awakening Lives to World Missions (ALWM) organization.  This is a small web-based English conversation ministry for nurses and medical professionals in Ho Chi Minh City, Vietnam. 

I had the pleasure of meeting with two nurses during the year and a half that I participated in the program.  I met with my assigned nurses once a week via Zoom/Messenger (or whatever web-based application worked!) for about an hour.  Initially we chatted about a variety of topics that allowed us to get to know each other better, but we soon moved to topics that were relevant to each of them including basic nursing terms in English.  Volunteers (both the Vietnamese nurses and English speaking volunteers) agree to participate in a session which usually lasts about 10 to 12 weeks.  

The program is currently looking for volunteers who will invest an hour a week to build a cross cultural relationship and friendship with a Vietnamese nurse/medical professional while sharing the love of Christ as the Lord provides an opportunity.  A background in ESL is not required; the most important requirement for volunteers is to love people.


The next session this year will start on October 17 and last until mid-December.  The nurses are really encouraged by the volunteer visits because, as health care professionals all over the world,  they too are facing fatigue and increased pressure as a result of the COVID situation in Vietnam.   

For more information and application information please contact the EFEC Coordinator at EFECCoordinator@alwn.org.  I would also be happy to answer any questions you may have about my experience as a volunteer in the program.  You may contact me at DFS 815.842.4393 or denise@douglassfinancial.com