Live United | United Way

FOR IMMEDIATE RELEASE
1/29/2010
 Contact: Laura Heikkila
610-429-9400
financialstability@unitedwaychestercounty.org
 

FINANCIAL STABILITY PARTNERSHIP OFFERS FREE TAX PREPARATION

As part of its Financial Stability Partnership, United Way of Chester County and Life Transforming Ministries operate Volunteer Income Tax Assistance (VITA) sites in Coatesville, Phoenixville, West Chester and Exton from January 29th through April 14th, 2010. Sites are staffed by IRS certified and trained volunteers and provide free tax preparation services to low to moderate income taxpayers in Chester County during tax season 2010. The program is aimed at educating local workers about the IRS Earned Income Tax Credit and assisting taxpayers in maximizing their refunds, trained and certified volunteers prepared tax returns at various locations throughout the county.

In 2009, $420,000 was returned to local residents, a direct benefit to families and individuals as well as the local economy. Taxpayers taking advantage of the VITA program also saved an estimated $45,000 in preparer fees. The average household income of those receiving volunteer tax preparation services was $16,500 while two thirds of the households reported incomes below 150 percent of the poverty rate. Unable to be measured was the value of relationship, trust and goodwill experienced in each appointment between exceptional volunteers and grateful taxpayers.

Bill Shaw, Executive Director at Life Transforming Ministries, explains “In the 5 years this program has been in place we realize we’re reaching the target population in the lowest income levels and getting dollars back into the hands of those who need it most. These refunds are changing lives. Success cannot always be measured by the number of refunds alone.”

The US Chamber of Commerce has identified the Earned Income Tax Credit as the most effective poverty fighting mechanism in the last 40 years, yet the IRS estimates that one in four eligible taxpayers could miss out on this valuable credit. Many people will qualify for EITC for the first time this year because their income declined or they added children to their families. Taxpayers making as much as $48,279 could qualify for EITC. A married couple with three children and an income ranging from $12,570 to $21,420 could be eligible for the maximum tax credit of $5,657.

For more information, contact Laura Heikkila at 610-429-9400. To schedule an appointment, call 610-380-9099 or visit www.quietrevolution.org.