Expanding financial stability through VITA Free Tax Prep
Each year, roughly 8 in 10 Americans receive tax refunds. While the specific amounts vary, Tennesseans got back an average of $2,690 per return before filing fees in the 2016 fiscal year.
When you’re living paycheck-to-paycheck, tax refunds can offer much-needed financial breathing room.
And many tax filers can maximize those refunds by using United Way of Williamson County’s VITA Free Tax Prep.
Through the help of volunteers, this service offers free tax preparation for individuals or families earning less than $66,000 per year.
Volunteers receive IRS training to find any applicable credits or deductions so taxpayers can get their maximum refund and save money on tax prep fees. For people who are comfortable preparing their own tax returns, United Way and H&R Block partner to offer free and secure online filing software for qualified individuals.
VITA Free Tax Prep is one of the ways United Way of Williamson County works to expand financial stability in the community.
A recent survey showed Americans pay an average of $261 to file their taxes. When you’re already struggling to make ends meet, that $261 could mean almost a week’s worth of groceries for a family of four. Sure, you could file your taxes without the help of a professional, but you risk losing out on valuable tax credits or deductions that you may not know you qualify for.
Those credits and deductions can mean being able to make a needed car repair, paying off bills, or even setting aside money for a rainy-day fund. They can mean the beginnings of financial stability.