Stand up for your money – get a full tax refund!
VITA can prepare and file your tax return for free!

By Amanda Clements and Megan Earnhardt
UWBB Strategic Initiatives

 

It’s almost tax time again, and it’s important to know that there is an alternative to paying for filing, loans or quick refunds called the Volunteer Income Tax Assistance (VITA) service.

 

VITA, part of United Way of the Big Bend’s BEST Project, will offer free tax preparation at sites throughout the Big Bend from mid-January to April 2012. This free service helps residents avoid refund-anticipation loans and costly income-tax preparers.

 

VITA volunteers also work to ensure that eligible families take advantage of tax credits, such as the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC). The EITC is a federal tax benefit for working people with low or moderate incomes. It can offset some or all of the taxes workers must pay and can help cover any federal income tax workers may still owe at tax time. You may also get cash back through an EITC refund. The EITC can be worth up to $5,751 for families who worked in 2011. In addition, some families can get the CTC, which can be worth up to $1,000 per child. Even if you don’t owe any income tax, you may still be eligible for these credits if you worked during 2011. To claim the credits, you must file a 2011 tax return.

 

“VITA volunteers are trained to look for additional credits and deductions that families may not know they qualify for,” said Megan Earnhardt, UWBB Strategic Initiatives associate. “VITA’s number one goal is to maximize everyone’s tax refund … they want to get you every dollar you’ve earned. This service helps put more money back into the pockets of Big Bend residents, which in turn boosts our local economy. In just seven years, VITA has brought back $17.9 million in tax refunds and saved Big Bend residents an estimated $2.5 million in tax-preparation fees. This has resulted in a $20.4 million impact on our local economy.”