Free Midlands Tax Program Provides a Gateway to the
New South Carolina Earned Income Tax Credit
Newberry, SC (Sept 9th, 2017) - Low- to moderate-income workers have been able to claim the Earned Income Tax Credit (EITC), on their Federal Tax returns since 1975. The refundable credit offsets taxes, supplements very low wages, and encourages work. This tax season, South Carolina will be the 27th state to enact the EITC on their state tax return as well. The new law pass on May 11, 2017 approved a nonrefundable EITC worth 125% of the federal credit. The SCDOR will phase in the credit over the next 6 years.
The Cooperative Ministry in partnership with Newberry Literacy Council is seeking volunteer tax preparers and greeters to help staff their Volunteer Income Tax Assistance (VITA) at their Newberry tax site during the 2018 tax season. With the support of IRS certified volunteer tax preparers, VITA sites provide free tax preparation to individuals and families earning less than $54,000 per year. This income cap qualifies roughly 60% of Newberry residents for free tax preparation.
Last year, Newberry Literacy Council completed 173 tax returns, refunding over $65,000 back into the local community. These were basic returns completed by Newberry residents. In order to help even more taxpayers this year, The Cooperative Ministry is looking for additional volunteers to go through their free tax training program.
"Volunteers want to strengthen our community and our volunteers enjoy giving back in a very tangible way," said Jessica Grote, VITA director at the Cooperative Ministry.
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Volunteers sharpen their current skills and develop new ones. There is something intriguing about helping people with their taxes, which keeps our volunteers coming back year after year."
Free volunteer training provided by IRS community partners begins in November and December. New volunteers are invited to attend classroom instruction that is suitable for beginners with no prior tax knowledge. For tax professionals or experienced volunteers, an online training and certification tool is available.
Site operation hours vary, but each volunteer is asked to volunteer regularly for at least one three- hour shift per week from late January until April 15, 2018. Volunteers of all ages and backgrounds are welcome, but all volunteers need to be comfortable working with a computer.
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Volunteers are the heart of our program, as our lines remain long as thousands of people show up every tax season,
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said Grote.
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The amazing result is thousands of tax returns prepared and millions of dollars returned to the pockets of working families-How else can you save a neighbor hundreds of dollars in just an hours' time?"
As for the EITC credit, VITA volunteers help Midlands's households receive the best possible refunds by ensuring they claim all deductions and tax credits available. For example, the federal Earned Income Tax Credit-one of the most powerful poverty-fighting safety net programs in the country-can provide eligible families with three or more qualifying children up to a $6,269 credit. Sites also provide support in helping families access the new South Carolina Earned Income Tax Credit, which is being phased in starting this year. The new credit leverages the federal EITC in the communities that need it the most. Full-time SC residents making low- to moderate-incomes will start to receive a nonrefundable credit during the 2018 filing season. The new credit will be phased in an amount equal to one hundred twenty-five percent of the federal EITC, between now and 2023.
Learn more: http://www.coopmin.org/how-we-help/vita/
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About The Cooperative Ministry
The Cooperative Ministry is a nonprofit organization that helps the working poor through crisis assistance and sustainability programs. Learn more about The Cooperative Ministry
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