United Way of Marshall County (UWMC) encourages Americans earning $62,000 or less to keep more of their hard-earned money this tax season by using a free, online tax preparation service and accessing valuable tax credits. A new national survey finds 72 percent of working Americans making that amount or less are unaware they qualify for free tax filing and counseling.
The survey, conducted for United Way Worldwide, finds that most respondents are unfamiliar with MyFreeTaxes, a mobile-optimized software program allowing free federal and state tax preparation and filing in all 50 states and Washington, DC. The self-file service is available for anyone earning $62,000 or less. United Way also offers free in-person filing assistance through our Volunteer Income Tax Assistance (VITA) sites. On average, filers can save $200 in tax preparation fees by using the free platform.
“We recognize that affordable tax preparation services are out of reach for many in our community,” said Linda Yoder, Executive Director of UWMC. “In addition to the savings derived from using this service, taxpayers can reduce the amount of income tax they pay by claiming valuable credits. We know that tax refunds help many in our community achieve greater financial stability, and we want to help them keep more of what they earn.”
Limited Awareness of Tax Credits
Many of the 1,000 adults surveyed were unaware that they were eligible for tax credits. Just four in ten adults reported awareness of the Child Tax Credit (CTC), while fewer than 60 percent said they are familiar with the Earned Income Tax Credit (EITC). Almost 20 percent were not aware of any tax credits they could access.
Last year, taxpayers used VITA sites to complete nearly 2 million returns, bringing $2.35 billion back to communities, including more than $681 million in refunds from tax credits, which Congress made permanent at the end of 2015.
Spending Refunds on Critical Needs
Tax refunds help working Americans put money in their pockets for everyday items and save for the future. About 23 percent of those asked say they spend their refunds for food, while 22 percent spend the money on housing costs; 31 percent use their refunds for utilities. A quarter of those who receive refunds put the money into savings or invest the funds for the future.
United Way Can Help With Tax Preparation
Filers can enter data into the secure MyFreeTaxes site anytime, from anywhere, making it easy to update the documents from home, at work or on mobile devices. The service also includes a helpline, 1-855-MY-TX-HELP, which operates through April 18 from 10:00 am – 10:00 pm EST Monday – Friday and noon to 9:00 pm EST Saturday; staff will continue to provide assistance on a more limited basis through October 15, based on demand. The website also provides a live chat function. To find a VITA site near you, visit MyFreeTaxes.com or call 1-855-MY-TX-HELP.
Individuals earning more than $62,000 a year can still use the H&R Block software through the MyFreeTaxes site at a discounted rate.
MyFreeTaxes is provided by United Way, with the support of a grant from the Walmart Foundation. The tax filing software is provided by H&R Block and free tax support is available in English and Spanish by IRS-certified specialists.
The national public opinion survey was conducted for United Way Worldwide November 18-23, 2015 using Lightspeed GMI online survey. The study was conducted among a national sample of 1,000 American adults with income of $62,000 or below. The total sample is balanced to be representative of the U.S. adult population in terms of age, sex, geographic region, race and education. The margin of error for the total sample of 1000 adults is +/-4 % with a confidence level of 95 percent.
ABOUT THE UNITED WAY OF MARSHALL COUNTY
For over 50 years, the United Way of Marshall County has continuously conducted annual fundraising campaigns in support of local health and human service not-for-profit organizations. The United Way has been the conduit for helping thousands of individuals, regardless of income level, contribute to a united community cause. United Way volunteers have spent millions of hours advocating for much needed programs and services that help build a stronger community and, as a result, the United Way has allocated more than $8 million to local agencies for everything from basic necessities like food to tutoring programs for youth to helping the elderly get to the doctor. The United Way of Marshall County remains committed to igniting the caring power of the human spirit to help meet the most basic needs of education, health and financial stability. Together we create a stronger future for Marshall County.
