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A free tax preparation service for low and moderate
income families.
Through
the Cuyahoga EITC Coalition volunteers, low-income taxpayers will
receive quality tax preparation, wealth building opportunities and
other services in order to strengthen our neighborhoods’ economies.
EITC
is a refundable tax credit available to working adults without children
earning up to $15,880 through families with at least two children
earning as much as $41,646. The credit can be as large as $4,824 and
the average EITC credit for Cuyahoga County in 2006 was $1,918.
In highly urban areas, it is estimated that between 15 and 20 percent
of those eligible for this credit do not claim it. These are dollars
that do not go to the hard working families that earned them and
therefore not into the Cuyahoga County economy.
The Coalition has seen
impressive growth over the last four years of operations. In
2004, 850 clients received $1.2 million in refunds at VITA sites.
By 2008, 8,069 clients received $9.1 million in refunds. By
visiting VITA sites, the 2008 clients saved an estimated $2 million in
preparation fees.
The
Cuyahoga EITC Coalition promotes free and fair tax preparation services
for middle and low-income filers. Many filers are subject to filing
fees and refund anticipation loans (RALs) sold to them by private
for-profit businesses. These fees and loans are avoided by using
the Coalition’s free tax sites throughout the city of Cleveland and
Cuyahoga County. The sites are free, quick, and an efficient
alternative to paid preparers.
Finally,
the Cuyahoga EITC Coalition encourages financial independence and
savings for middle and low-income families. Wealth-building is an
important step toward home ownership, saving for higher education, and
day-to-day living.
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