Free tax preparation is the gateway to financial stability and service for thousands of working families. Most low-income families are eligible for a tax refund, which is their largest source of income all year – often one-fourth of their annual income.
The Earned Income Tax Credit (EITC) is largely responsible for making tax time so crucial. The EITC is the largest poverty relief program in the country, aimed at helping families with children provide basic needs and save for the future. What’s more, free tax preparation increases tax compliance by encouraging families to file their taxes on time and accurately. More than one-fifth of eligible EITC filers do not claim the credit or do so incorrectly. Free tax preparation not only helps with EITC claims and accurate returns but it also provides an entry point for families to become better banked, determine eligibility for and claim public assistance, and receive financial education.
This year, Burten, Bell, Carr will be offering free tax preparation on Mondays, Wednesday, Fridays and Saturday. Anyone can sign up to become a volunteer. There is no experience necessary, just attend a Coalition led training to become certified. Sign up today by visiting www.refundohio.org.