MyFreeTaxes.com - Website of the Week →

National Disability Institute’s Real Economic Impact Tour is proud to be a part of Walmart’s MyFreeTaxes collective, along with OneEconomy and United Way Worldwide. The MyFreeTaxes initiative was created to bring free tax prep to low-income taxpayers as well as education about the Earned Income Tax Credit (EITC), along with WIC and SNAP eligibility.

If you earned less than $57,000 in 2011, you have 3 ways to file with MyFreeTaxes: 

• Online at www.MyFreeTaxes.com (in English and Spanish);
• At one of 100 United Way led, community-based tax preparation efforts at Volunteer Income Tax Assistance (VITA) sites; or
• At a mobile MyFreeTaxes van event.

If you or someone you know could benefit from free state and federal tax prep (online or in person) visit MyFreeTaxes.com and pass on this info today!

Spend Some, Save Some - Publication of the Week →

Spend Some, Save Some is a financial education guide published by CFED. The free, easy-to-read guide (available in English and Spanish) walks VITA clients through some important things to consider when they receive their refunds to help them make the most of the money they expect to receive. The guide and the included Savings Plan Worksheet can help taxpayers:

• Recognize the value of using the tax moment to contribute to their short- and long-term savings goals
• Make decisions about how to use their refunds for spending on “must-haves,” saving for the future and spend on “nice-to-haves”
• Get connected to resources like U.S. Savings Bonds, College Savings Accounts, additional tax credits like the Saver’s Credit, Individual Development Account programs and Bank On campaigns

Read more about Spend Some, Save Some at the CFED blog. The page also includes a link to the spanish version of the guide.

Check out the second installment of the MoneyMondays radio series, produced for the Georgia Radio Reading Service. Read the full MoneyMondays radio series press release at our website: http://www.realeconomicimpact.org/News.aspx?id=256

The MoneyMondays radio series is a service of the National Disability Institute’s Real Economic Impact Tour, through a partnership with United Way and One Economy, thanks to generous support from Walmart.

The second episode, “VITA” can be heard above or you can download a transcript.

Imagine My Delighted Surprise

by Yvonne Goodwin - Mobile, AL

As an employed person with multiple disabilities, I was pleasantly surprised to learn from the IRS that someone would come to the Independent Living Center, where I work part-time as a receptionist, and fill out my income tax forms for free.  This was not just news to me, but certainly wonderful news.  I had done some work on doing my own taxes on the internet, and was dreading the fact that I would have to pay a fee—both federal and state—as well as possibly lose some deductions of which I was unaware.

I was so pleased with the results of my time spent with the Goodwill Easter Seals preparer that helped me.   She was not only nice and patient, but extremely professional and knowledgeable.   The 45 minutes I spent with her went by fast and pleasantly.  Not only was my refund explained to me, and was arranged to be automatically deposited in my bank account, but she did my state taxes  The small amount I owed the State was set up to be taken from my bank account later.

I not only had my taxes done quickly, professionally, and for free, but I realized I had extra money in my pocket since I did not have to pay any online company.  Also, I knew my taxes had been prepared correctly, and it was one problem taken care of and off my mind.

My refund was actually in my bank within 6 days, and my State taxes were taken out when promised.  So, no worries!

I also learned that, since I will be 65 this August, I will not be eligible for the Earned Income Tax Credit next year.  However, it was explained to me that my Standard Deduction would increase.

I am, believe it or not, looking forward to the next tax season because I am sure I will be just as pleased as I was this year!

I am just so grateful that a program exists to help employed people with disabilities to prepare their taxes where they work.  Mobility is one of my big problems, and this was such a help to me.  I am eternally thankful for such a wonderful service. 

- - - - - - - - 

We’d like to thank Yvonne for her wonderful story! If you or someone you know has benefitted from the work of National Disability Institute or the Real Economic Impact Tour, we would love to hear from you. Drop us a line at info@ndi-inc.org and tell us more about it!

The Three Ts

“The Three Ts”

by Judy Stengel, REI Tour National Resource Manager

Everyone knows what the three Rs are but do you know the three Ts?  Time – Talent – Treasure.  Many people think that if they contribute Treasure (money) to an organization, they have done their civic duty. There is no doubt that agencies need the revenue, but time and talent of people is equally as important.  Albert Einstein said, “Not everything that counts can be counted. And not everything that can be counted, counts.”  Current estimates are that an hour of volunteer time is worth just under $21.00.  

So why would a person would volunteer if they can earn money instead?  Everyone has a different reason and point of reference.  There are as many reasons as there are different people – to feel needed, to do civic duty, to have an impact, to learn something new, to escape from loneliness, to be challenged, to explore a career, to earn academic credit, to have something for their resume, to make new friends, or any number of other reasons.  Someone once said, “Volunteering is the rent you pay for the space you occupy in this world.”

I’ve been volunteering for as long as I can remember.  Why?  Because that’s what my parents and grandparents did when I was growing up during WWII.  My now 95 year old Aunt used to run the local hospital gift shop but five years ago she had to cut back to one day a week!  I used to think that everybody volunteered someplace.  My longest stint of volunteering (over 20 years) has been with Volunteer Income Tax Assistance (VITA).  I began in the mid 80s for a very selfish reason; because I wanted a promotion at IRS where I was working.  But I got hooked – I liked working with numbers; I liked helping people who were afraid to prepare their own returns because they were afraid of making a mistake.  

I remember a time I was helping at a mobile site at a mental health facility.  One woman had not filed a return since she became ill but brought all of her information.  The interview revealed that while she was in recovery she not only worked part-time and earned wages but also lived with her school-age daughter so she was eligible for earned income tax credit (EITC).  She was so scared that she was going to owe a lot and wanted to be sure she could set up a payment plan.  After finishing four year’s worth of returns she was amazed to find she was going to receive over $1,500 in refunds.  She first stared in disbelief then broke out crying and hugged me so tight she took my breath away!  Now she and her daughter could move to a larger apartment.

The most unforgettable incident though happened about two years ago as I was waiting at the airport in Detroit for my connecting flight home.  A woman who was waiting for the same flight kept looking at me then back at her lap as if each time she looked up she was saying to herself, “I know her but from where?”  Finally just as we were boarding the plane she loudly stated, “Oh!  You are the Tax Lady!”  I guess my volunteering made an impression on someone.  It made my day!

- - - - - - - - - - 

Judy Stengel, a retired IRS employee with over 25 years of service, is the National Resource Manager of NDI’s Real Economic Impact Tour. Judy is the mother of an adult son who has a developmental disability and is a dedicated advocate for the rights of individuals with disabilities in Kansas and throughout the country.

Leverage Beehive Online Tax Tools to Increase Customer Satisfaction and VITA Return Counts

Starting this year, you can utilize an online tax product that provides 50 states of free self-filing to build on your community VITA tax preparation.  Tax returns completed through the Beehive Tax Tool (www.thebeehive.org/taxes) and MyFreeTaxes (www.myfreetaxes.com) can be included in your VITA reporting with the IRS.

Fill out this quick survey if you are interested in joining us this year. (Can’t see the link? http://goo.gl/EpWmn)  

The Internet is an affordable, efficient system to deliver services and meet growing demands of resources and volunteer hours. Now is the time to help your clients learn to complete their own tax returns!

In just two years, this program has successfully affirmed that low-income Americans are ready, willing and able to use technology to help themselves improve their lives. Last year, almost 20,000 taxpayers prepared their own taxes with the Beehive Tax Tool. Will you help your clients learn how to file their own taxes?

For more information, contact Lee Davenport at ldavenport@one-economy.com

Push for Direct Deposit of Tax Returns Increases

Recently, the U.S. Department of the Treasury announced that it will launch a new pilot program to help capitalize on tax refund season as an opportunity to provide unbanked and underbanked Americans with access to safe, low-cost financial accounts. The immediate goal is to have low-and moderate income tax payers receive their refunds to a debit card rather than by a traditional paper check, but the program will also seek to offer accounts that can be used year round. (Read full press release)

Similarly, 11,000 VITA tax sites, which are sponsored by the Internal Revenue Service, will now be able to offer clients the MoneyWise Prepaid MasterCard as a result of a new relationship between Western Union and CCHSmall Firm Services, a leading provider of software for tax and accounting professionals. (Read full press release).

Related:

• More info at realeconomicimpact.org on the REI Tour’s Deaf Tax VITA Pilot, a  program for deaf taxpayers.
• Why direct deposit is a smart move.