Step Up participates in the Savannah Coastal Empire Asset Development Coalition, a network of organizations involved in financial literacy efforts in Savannah and Chatham County. The coalition’s primary initiative is running the annual Volunteer Income Tax Assistance (VITA) sites at numerous locations.
VITA is an IRS program that enables eligible taxpayers (those earning $62,000 or less in 2015) to have their federal and state income taxes prepared for free by certified volunteers. In Savannah, the Neighborhood Improvement Association (NIA) takes the lead in coordinating the VITA program.
VITA volunteers make sure that filers receive all the credits they’re eligible for, such as the Earned Income Tax Credit (EITC). The EITC is a federal income tax credit for low- to moderate-income working families. Generally, families with an annual income of $50,000 or less are eligible for the EITC, depending on household size. Families also may qualify for the credit even if their income is so low they are not required to file a tax return. The IRS estimates that over $8 million in EITC is left unclaimed each year.
- Want to do your own taxes for free? Click on www.myfreetaxes.com to prepare your own return.
- Save some, spend some: Did you know that you can purchase US Savings Bonds for yourself or the children in your life with part of your refund when you file your tax return?
- You can also split your refund into three different bank accounts, making it easy to save some and spend some. Ask your tax preparer about these easy ways to save.