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Area Residents Encouraged to Utilize Free Tax Assistance and Receive Federal Tax Credits

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Don't leave money on the table that could be helping you and your family ... and don't sacrifice your hard-earned money for a short-lived loan. Those are the messages that community leaders representing the Earned Income Tax Credit Coalition want to impart to hard-working families this tax season.

Dayton City Commissioner Dean Lovelace and United Way of the Greater Dayton Area President Marc Levy were joined by representatives of local financial institutions, nonprofit agencies, and the IRS today to announce details of this year's Earned Income Tax Credit (EITC) campaign. The EITC is now worth more money than ever before - up to $4,716 for eligible families. In addition, many EITC-eligible families also qualify for the Child Tax Credit, worth up to $1,000 for each child under age 17.

The local coalition is promoting the Earned Income Tax Credit to low-income working families and individuals as an effective tool to increase their financial stability. The goal of the campaign is to provide free tax assistance to help working families take advantage of federal tax credits when they file their income tax returns and avoid the dangers of quick loan offers that prey on low-income workers and carry hidden costs.

The local outreach effort began in 2002 with four coalition-sponsored volunteer tax sites and has grown to twelve sites in 2008. In 2006 (the most recent IRS data available), 50,593 households in Montgomery, Greene and Preble Counties received a total of $93,445,063 in EITC returns, an average of $1,847 per household. In Montgomery County alone, EITC returns increased 63% from $46 million in 1999 to $75 million in 2005.

More than 50 IRS-trained and certified volunteers will prepare and file taxes at the coalition's 12 free community tax sites throughout tax season this year. Last year, 2,250 families and individuals had their taxes prepared at the coalition's sites. The goal this year is to increase that number to 2,750, encouraging an additional 500 people to avoid the predatory lending tax sites.

"Based on the average EITC return, an additional one million dollars could be returned to the pockets of hard-working families and boost the local economy," Levy said. "This extra income helps many families pay their bills, purchase such things as furniture or appliances, pay for job-related expenses, and provide a better life for their children."

"The EITC and Child Tax Credit have taken on added importance during times of high unemployment," Levy said. "Families and individuals that have lost income badly need the boost these tax credits provide. The additional dollars can provide relief for families under severe economic stress, enabling them to pay back bills, avert utility shut-offs, eviction or foreclosure, buy groceries and cover childcare, automobile and other household expenses."

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The coalition's free tax preparation sites are open through April 15. Hours of operation include a variety of daytime, evening and Saturday hours.

Interested taxpayers with in the Dayton Northwest Weed and Seed Target Area encouraged to call the Dayton Northwest Weed and Seed offices at 276-9860 or United Way's HelpLink 2-1-1 EITC Hotline at 913-2000 for further information or to schedule an appointment.

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