United Way Connects Local Families with the Earned Income Tax Credit
Richmond, VA (Jan. 31, 2020) – This tax season, millions of workers could overlook important federal tax benefits because they simply don’t know about them.
United Way’s Volunteer Income Tax Assistance program helps people maximize their tax refund by offering free tax preparation for families and individuals with income of $56,000 or less.
Through this program, United Way helps working families take advantage of the Earned Income Tax Credit (EITC), a refundable tax credit available to qualifying lower-wage workers and their families. Workers earning less than $56,000 from wages, self-employment or farming in 2019 could qualify. Many people will be eligible for the first time this year due to changes in their income, their marital status or parental status, according to the IRS.
The EITC can help cover any federal income tax workers may owe at tax time. Workers earning lower wages may also get cash back through the EITC refund. Eligible workers who claim the EITC on their tax return can receive a refund even if they do not have a filing requirement.
The EITC is one of the nation’s largest and most effective anti-poverty programs. In 2017, the EITC lifted an estimated 5.7 million people out of poverty, more than half of them children.
United Way’s Volunteer Income Tax Assistance Program promotes financial well-being, one of United Way’s nine Steps to Success. Our team of staff and volunteers prepare income tax returns for qualifying families and individuals and advocate for the Earned Income Tax Credit (EITC). Our work ensures that tax returns are accurate and everyone receives their full refund and avoids unclaimed tax credits, fees for tax preparation services and refund anticipation loans.
United Way hosts many tax sites throughout the Greater Richmond and Petersburg region, all with a range of operating hours between the end of January and April 15th, which ensures everyone will be able to find a time and a place that they can receive free tax assistance and information about the Earned Income Tax Credit.