June, 2012 --The Financial Stability Alliance and United Way of Monroe County are excited to announce that a record number of tax returns were filed by the Free Community Tax Service during the spring 2012 tax season. The Free Community Tax Service (FCTS) brought together community partners, including both Volunteer Income Tax Assistance (VITA) and AARP Tax Counseling for the Elderly (AARP/TCE) programs, along with hundreds of volunteers to assist in filing 2,680 returns for residents in Monroe and Owen counties.
The Free Community Tax Service ensures that low- and moderate-income residents are able to file their returns without incurring tax preparation fees. In addition, the service ensures that residents have access to well-trained volunteers who can help residents claim valuable tax credits.
At the seven VITA sites this year, volunteers completed 1502 tax returns—a 62% increase from last year. Ivy Tech, the largest of the sites, filed 747 returns, a 34% increase. The Owen County Public Library filed 165 returns, and the IU Maurer School of Law filed 429. FCTS also saw great turnouts at the Ellettsville Public Library and South Central Community Action Program, filing well over 100 returns for community members.
New this year, the self-service site at WorkOne filed about 30 returns. Mobile sites visited different locations throughout Monroe County serving individuals and families, including many people with disabilities.
AARP Tax Counseling for the Elderly (AARP/TCE) administered sites at Twin Lakes Recreation Center and the Monroe County Public Library. Those locations had similar success, filing 453 returns and 725 returns, respectively.
Not only did participants save money by filing their taxes for free, but many also received the Earned Income Tax Credit (EITC). The EITC is a federal income tax credit for low- and moderate-income working individuals and families. This valuable tax credit resulted in a significant income boost – up to $5,751 for those who qualified. Free Community Tax Service volunteers were trained to ensure everyone who was eligible claimed the credit.
United Way Executive Director Barry Lessow commented, “Through the Free Community Tax Service, residents of Monroe and Owen counties boosted their financial stability both by saving on tax preparation fees and increasing their refunds. In most cases, those funds went to pay for essentials like food and housing. It's also important that people who needed those dollars were able to receive their refunds more quickly because they completed their returns electronically. Many more individuals were served, which means that significant additional money was brought back into our local economy. The success of the program this year was the result of strong partners, generous site hosts, and exceptional volunteers. Our thanks to them all.”
Along with the Financial Stability Alliance for South Central Indiana and United Way of Monroe County, community partners include 2-1-1, AARP, Area 10 Agency on Aging, Broadview Learning Center, City of Bloomington, El Centro Comunal Latino, Ellettsville Branch Library, Indiana University Maurer School of Law, Internal Revenue Service, Ivy Tech Community College, LifeDesigns (formerly Options/Christole), Monroe County Public Library, Owen County Public Library, South Central Community Action Program, St. Paul Catholic Center, Stone Belt, Twin Lakes Recreation Center, Walmart, WorkOne Bloomington, and community volunteers.