How is it that Christmas rolls around faster and faster every year – followed closely by tax time? Tax time for many of us is a dreaded event of gathering receipts, traveling to tax accountants and of course the dreaded tax bill. However, for many low income working families, tax time is actually a good time. For many, tax returns and EITC credits provide families with resources not available at other times of the year. Yet finding the right tax preparer is not always easy.
Credit unions can help. Credit unions across the country are assisting low-wage families prepare tax returns through on-line tax preparation programs and by offering or supporting Voluntary Income Tax Assistance (VITA) sites. VITA programs, offered in collaboration with the IRS, prepare tax returns at no cost for families of modest income. This saves taxpayers thousands of dollars in tax prep fees. Additionally, VITA sites discourage tax payers from taking expensive refund anticipation loans. There are many ways that credit unions can assist members in preparing their annual income tax returns and participate in VITA sites.
Download the new REAL Solutions® Volunteer Income Tax Assistance (VITA) Sites Implementation Guide, a practical and objective guide for credit union executives looking to get started.What’s inside?
- Credit Union and State League Examples
- VITA Site Procedures
- Certification Training
- Complementary Products
- Measuring Success
- Resources and References
The REAL Solutions® Volunteer Income Tax Assistance (VITA) Sites Implementation Guide may be downloaded free of charge.