VITA Programs offer low-wage workers a free alternative to more costly, and often predatory, tax preparation services by offering free tax preparation and ensuring the taxpayers receive any and all credits which they are entitled to. NFTC trains IRS certified volunteers that identify and claim any tax credits which the taxpayers are entitled to, such as Earned Income Tax Credit (EITC). The EITC is a widely regarded as one of the nation’s most powerful anti-poverty programs, yet one in ... Devamını Oku
VITA Programs offer low-wage workers a free alternative to more costly, and often predatory, tax preparation services by offering free tax preparation and ensuring the taxpayers receive any and all credits which they are entitled to. NFTC trains IRS certified volunteers that identify and claim any tax credits which the taxpayers are entitled to, such as Earned Income Tax Credit (EITC). The EITC is a widely regarded as one of the nation’s most powerful anti-poverty programs, yet one in every five workers eligible for the credit does not claim it. Additional credits and deductions can represent a refundable credit or represent a deduction to the amount they might owe. These tax credits can mean more money in the taxpayers pocket.
This year, the NFTC/VITA volunteers have prepared more than 7,180 tax returns and have provided more than $8.6M in tax refund. Our volunteers donated thousands of hours during the tax season and helped the VITA program to return $25,001,978 to Nevada Taxpayers.
Despite the availability of the free services more than 25 percent of qualifying Nevada families do not receive their EITC refunds. Nevada is ranked 47th in its EITC participation rate. This means more than 85,000 Nevada families including thousands of children and their local communities are not receiving this potentially life changing credit. Nevadans are not collecting about $200 million in federal EITC dollars and our communities are foregoing $300 million in federal economic stimulus that could provide more jobs, better physical and mental health, higher test scores, higher household income and more state tax dollars. Simply put, Nevada cannot afford this shortfall. Therefore, we must get out the word to make certain that all hard working Nevada families and their communities participate to the full extend of the law in EITC benefits.
The ongoing goal for the NFTC is to increase the footprint of the program. This is accomplished through outreach, marketing, and designing a program to educate the LMI taxpayer of availability and benefits of the program which saves them money in tax preparation fees, ensures they receive all credit which they are entitled to and helps to maximize their refunds.
Tam Metni Gizle
