Tax center eases preparation stress Published Jan. 17, 2008 By Staff Sgt. Mark Simonds 319th Legal Office GRAND FORKS AIR FORCE BASE, N.D. -- Tax season has returned for Americans. It's that wonderful time of the year, and to help reduce the stress and confusion, the base legal office is offering the tax center again this year to assist Airmen in filing their taxes. A newsworthy development for taxes this past year was the raising of exemptions for the Alternative Minimum Tax. The AMT basically ensures that everybody pays a minimum amount of taxes to the federal government each year, otherwise taxpayers may be able to use deductions as a way of paying lesser taxes, or to even avoid paying taxes altogether. This year the exemptions for the AMT for married couples filing a joint return has been raised to $66,250. For married couples filing separately, the exemption now stands at $33,125, and for a single person or head of household, the exemption has been raised to $44,350. If you make more than the AMT exemption permits for your filing status, then the AMT applies to you. For example, a married couple filing jointly who makes more than $66,250 and itemizes their deductions may be required to pay the AMT. In an effort to accommodate the new changes to the AMT, the IRS has listed Feb. 11, 2008 as the date to start submitting AMT-related returns. There are five forms which will be affected by this change: Form 8863, Education Credits Form 5695, Residential Energy Credits Form 1040A Schedule 2, Chile and Dependent Care Expenses for Form 1040A Filers Form 8396, Mortgage Interest Credit Form 8859, District of Columbia First-Time Homebuyer Credit If you plan on filing any of these forms with your return or if you must pay the AMT, please wait until after Feb. 11, 2008 before you submit your return. If you have any questions as to whether the new changes to the AMT will affect you, the tax center's volunteer advisors will be able to help determine if the AMT applies to you. The tax center will open the first week of February in the Airman Family Readiness Center (Building 207). Beginning on Feb. 5, 2007, the tax center will be open Tuesday through Thursday for walk-ins and appointments and some appointments will be available on Fridays. Airmen wishing to file the 1040EZ may just walk in and drop off their tax documentation and the tax center will take care of the rest. Those with more advanced finances may arrange for an appointment with a tax center advisor. The hours of operation and phone number for the tax center will be posted later in January.