Tax information program offered at Holyoke Library

HOLYOKE Local residents will be able to obtain up to date information regarding changes in the tax code, particularly as they apply to dealing with health insurance and how this will impact their 2007 income taxes.

On Nov. 29 the Holyoke Public Library will host two sessions with tax professionals, the first at 10 a.m., followed by an evening session at 6 p.m. Both sessions will be held in the Community Room, and interested parties are encouraged to register in advance by visiting the library or by calling 322-5640.

The IRS and the Massachusetts Health Connector have asked local tax professionals to include, as part of their community service/outreach activities, information to taxpayers about changes in the Massachusetts State Income Tax for 2007.

The aim of the program, which will be offered in both English and Spanish, is to educate and inform as many residents as possible regarding various changes, particularly as they concern state-mandated health insurance.

The Nov. 29 program at the Holyoke Library will be presented by a professional tax representative from H&R Block, who will provide the latest tax information residents need to know in order to file their 2007 returns.

Among the tax filing requirements to be covered in the presentation are; who can be claimed as a dependent, what tax adjustments are allowed, understanding eligibility for certain tax credits including the earned income tax credit, how paying student loan interest can benefit the taxpayer and what expenses can be claimed as itemized deductions.

Major changes to the Massachusetts State Income Tax Return for 2007 will be discussed specifically including the options and documentation requirement for health insurance coverage along with changes to the Circuit Breaker Credit. Time will be allowed for questions.

This program is being offered as a public service and open to the public without charge. Holyoke Public Library is providing space for the program but is not acting as a sponsor of the event.