Louisville Asset Building Coalition Receives $30,000 Intuit Funding to Expand Free Tax Services
Funding through the Intuit Financial Freedom Foundation increases the number of VITA (Volunteer Income Tax Assistance) tax filing sites from eight to ten
The Louisville Asset Building Coalition (LABC) today announced that it has received $30,000 in funding from the Intuit Financial Freedom Foundation (IFFF) to support and expand its programs that help low- and middle-income individuals and families to save during tax season.
The IFFF is the Presenting Sponsor of Tax Time Allies, a group of organizations across the country that partner to help taxpayers jump-start their financial journey at tax time to take control of their finances and save more of their hard-earned money.
LABC, which operates the Volunteer Income Tax Assistance (VITA) program in the Louisville area, will use the funding to increase the number of free tax filing sites from eight last year to 10 in 2022. VITA Certified Tax Preparers IRS also helps determine if residents are eligible for Earned Income Tax Credit (EITC) and Child Tax Credit (CTC).
“We are proud to count the Louisville Asset Building Coalition among our tax-time allies and to partner with them in this work for many years to come,” said Susan Mason, director of the Intuit Financial Freedom Foundation. “Together, we view tax season as a tremendous opportunity for low- and middle-income individuals and families to take stock of their finances and chart a new direction for their financial future. »
LABC’s VITA program offers a combination of in-person tax filing and filing options for individuals and families who earned less than $66,000 in 2021. Last year, VITA processed nearly 7,000 returns, adding more than $9 million to the local community.
“Tax refunds provide a critical household budget boost for many Louisville families, and we are grateful to Intuit for helping to expand the capacity of our local VITA sites,” said Mayor Greg Fischer. . “For many working families, free help with taxes and advice on qualifying for the EITC and CTC can be a game-changer. It’s money that could be used to open a savings account, buy a car, get braces for a child, pay for books and tuition, or set up a college fund for their children.”
“Also remember that eligible families who did not receive the Child Tax Credit advance payments in 2021 can still claim the full CTC amount on their 2021 federal income tax return, filed this year,” the mayor continued. “And that includes families who don’t normally need to file a return.”
“LABC is thrilled to receive this vital funding from Intuit, and we are proud to be part of the Tax Time Allies network,” said LABC Director Dr. Tina White. “We know that access to key financial resources like free tax preparation can make a huge difference for individuals and families struggling to achieve financial stability.”
Also new this tax season, Bank On Louisville is partnering with VITA to deliver a new Tax Time Connect initiative to encourage tax filers to get cashed with Bank On certified accounts and choose direct deposit for their tax refund. A financial lawyer will be available to provide additional support to filers as they open bank accounts and learn how to use that account to manage their money. Bank On Louisville is a collaborative partnership of local government, financial institutions, and community organizations working to improve the financial stability of unbanked and underbanked residents of our Louisville community.
For more information on how to access Tax Time Connect resources and to view a list of Bank On certified accounts available in Louisville, visit bankonlouisville.org.
The work of the Louisville Asset Building Coalition and AARP’s Tax Assistance Program is made possible by Metro United Way, the Louisville Metropolitan Government, the IRS, dozens of other partners, and dozens of volunteers.
For a list of VITA Tax Assistance site locations, including filing options, visit https://labcservices.org/images/2022/pdf/2022-LABC-Site-Brochure.pdf. To schedule an appointment for in-person VITA tax assistance, call 502-305-0005 or visit louisvillekyvita.cascheduler.com. For more information about LABC, visit labcservices.org or contact Dr. Tina White, Director of LABC at [email protected].
About the Intuit Foundation for Financial Freedom
Intuit Financial Freedom Foundation is Intuit’s charitable foundation dedicated to public/private/nonprofit partnerships and programs that help provide opportunities for prosperity for all, especially low-income people. Intuit believes that engaging citizens in preparing and filing tax returns is an important and empowering opportunity for Americans to understand and improve their personal financial lives. This is especially true for low-income Americans – and why Intuit has donated TurboTax to millions, founded “Tax Time Allies”, and provides funding and other support to nonprofits that enhance financial freedom – including savings – for those who need it most.
About Tax Time Allies
Tax Time Allies is dedicated to empowering workers and families to take control of their finances and save more of their hard-earned money. Allies offer free IRS-sponsored taxpayer assistance programs — VITA, Tax Counseling for the Elderly, Free File — to low- and middle-income individuals and families. Allies also help families learn how to invest a portion of their tax refund to increase their savings for financial stability. The Intuit Financial Freedom Foundation is a proud sponsor and financial supporter of Tax Time Allies. For more information, please visit www.TaxTimeAllies.org
History of the Louisville Asset Building Coalition (LABC) and the VITA program
In 2001, Metro United Way joined with the Annie E. Casey Foundation and several local partners to launch LABC, which works with the IRS and VITA to provide free income tax preparation to families whose household income can reach $66,000. Since taking office in 2011, Mayor Fischer has worked closely with Metro United Way to help grow and sustain LABC’s impact. This includes integrating LABC as a quasi-Metro agency into a partnership to expand its focus on financial empowerment. This year’s integration of Bank On Louisville’s banking access efforts with tax season services is just one example of the city’s work to ensure residents have the tools they need to strengthen their financial stability.