Aiming to put savings and tax refunds in taxpayers’ pockets, United Way of the Columbia-Willamette is funding free tax preparation programs for people across the region who may be eligible for tax refunds through the Earned Income Tax Credit (EITC).
EITC can be a financial boost for working people hit by hard economic times. Typically, Earned Income Tax Credit is available to most families earning less than $43,279 annually; and to individuals with an annual income of less than $13,440. Working families claiming EITC can receive up to $5,657 annually with tax credits. According to IRS records, about 25% of individuals and families living in Oregon who qualify for the earned credit don’t receive the refund because they haven’t filed for it. The refund is not automatic, and taxpayers must incorporate EITC into their tax filing.
United Way has allocated $77,500 to support free tax preparation programs in the Portland-Vancouver metro area. Of that amount, $50,000 came from United Way’s strategic initiatives fund, while Bank of America Charitable Foundation contributed $12,500. The WalMart Foundation dedicated $15,000 to provide tax assistance for people with disabilities.
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