United Way and Bank of America Partner to Bring Free Tax Preparation Services to Low- to Moderate-Income Families in Idaho
Through the Federal Government’s Earned Income Tax Credit program, working families can receive up to $5,657 annually in tax credits
Idaho State Treasurer Ron Crane to speak at Feb. 1 kick-off event
Boise, Idaho – United Way of Treasure Valley and the Bank of America Charitable Foundation are joining forces to provide free tax preparation and other social services to low- to moderate-income individuals and families who qualify for the Federal Government’s earned income tax credit (EITC) program and can earn up to $5,657 in tax credits for the 2009 tax year. With help from a new $2 million grant from the Bank of America Charitable Foundation, United Ways in 61 markets – including the Treasure Valley – will offer these services at Volunteer Income Tax Assistance (VITA) locations from January 30, 2010 to April 15, 2010.
United Way of Treasure Valley and Bank of America are working to increase awareness of the EITC program and to improve the financial well being of low-income individuals and families. More than $11 million in EITC goes unclaimed each year in the Treasure Valley. Last year, the program helped nearly 6,000 people file their taxes and returned $7.7 million in federal tax refunds to Treasure Valley communities. Still, the IRS estimates that 25 percent of eligible taxpayers fail to claim the tax credit which could put as much as $5,657 into the pockets of a family with three dependent children. Taxpayers with earnings of or below $48,279 (if married filing jointly with three or more dependents) should check to see if they qualify.
“Building the financial security of our nations’ families and communities is critical to revitalizing our economy,” said Kurt Walsdorf, Bank of America Idaho president. “With only about one-fourth of qualifying filers actually taking advantage of the earned income tax credit, the VITA sites provide an opportunity to help put money back in the pockets of hard working families. Our longstanding financial stability partnership with the United Way is one great example of how the bank is helping support pathways out of poverty.”
Media Opportunity:
On Monday, February 1, 1:00 pm at the Boise Senior Center (690 Robbins Road in Boise), business, government and non-profit leaders will gather to kick-off this year’s Free Tax Help Program and announce site locations throughout the Treasure Valley that will offer free tax assistance to qualified families and individuals. The program provides important resources and information to help the elderly, low-income, non-English speaking, and disabled taxpayers with the preparation of their tax returns by trained volunteers at no cost to them.
Idaho State Treasurer Ron Crane will speak at the kick-off event and is serving as program spokesman again this year. A radio commercial featuring Crane will soon begin airing on Treasure Valley radio stations promoting the free tax help sites. Along with the radio advertising, the campaign includes bus ads on all Valley Ride buses in the Treasure Valley (space donated by Valley Ride), electronic billboards, and posters distributed throughout the valley.
For those individuals and families needing this service, all they have to do is call 2-1-1 to get information about the site nearest them. United Way of Treasure Valley’s website at www.unitedwaytv.org will also host a full list of free tax site locations and time of operation in the Treasure Valley. Other program partners include 211 - the Idaho CareLine, AARP Tax-Aide, the IRS, the Coalition for Economic Improvement (CEI), and other local organizations.
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About United Way of Treasure Valley
Since 1928, United Way of Treasure Valley has been working to advance the common good by focusing on education, income and health. Our goal is to create long-lasting changes that prevent problems from happening in the first place. We invite everyone to be part of the change. Together, united, we can inspire hope and create opportunities for a better tomorrow. To learn more about our give, advocate, volunteer opportunities, please visit www.unitedwaytv.org.
Bank of America Corporate Philanthropy
Building on a long-standing tradition of investing in the communities it serves, last year Bank of America embarked on a ten-year goal to donate $2 billion to nonprofit organizations engaged in improving the health and vitality of their neighborhoods. Bank of America approaches giving through a national strategy called "neighborhood excellence" under which it works with local leaders to identify and meet the most pressing needs of individual communities. Bank associate volunteers contributed more than 900,000 hours in 2008 to enhance the quality of life in their communities nationwide.
To date, the Bank of America Charitable Foundation has provided $4.5 million in grants to support the United Way’s EITC program and helped launch the United Way Financial Stability Partnership. In 2008 and 2009, Bank of America associates also provided thousands of volunteer hours to help working individuals and families claim valuable tax refunds and will continue these efforts in 2010 at participating United Way VITA sites.
For more information about Bank of America Corporate Philanthropy, please visit www.bankofamerica.com/foundation.
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