Louisville Asset Building Coalition receives $30,000 in funding from Intuit to expand free tax services
Funding through the Intuit Financial Freedom Foundation expands the number of VITA (Volunteer Income Tax Assistance) tax filing sites from eight to ten
The Louisville Asset Building Coalition (LABC) today announced it is receiving $30,000 in funding from the Intuit Financial Freedom Foundation (IFFF) to support and grow its programs that help low- and moderate-income individuals and families save during tax season.
IFFF is the presenting sponsor of Tax Time Allies, a group of organizations across the country partnering to help taxpayers kickstart 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 utilize the funding to expand the number of free tax filing sites from eight last year to 10 in 2022. VITA IRS-certified tax preparers also help determine if residents are eligible for the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC).
“We’re proud to count the Louisville Asset Building Coalition as a Tax Time Ally and to partner with them in this work for many years,” said Susan Mason, Director of the Intuit Financial Freedom Foundation. “Together we embrace tax time as a powerful opportunity for low- and moderate-income individuals and families to take stock of their finances and set a new direction for their financial future.”
LABC’s VITA program offers a mix of in-person and drop-off tax 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 boost to the household budget for many Louisville families, and we’re grateful to Intuit for helping expand the capacity of our local VITA sites," said Mayor Greg Fischer. “For many working families, free help with taxes and guidance in qualifying for the EITC and CTC can be game-changers. That’s money that could be used to start a savings account, buy a car, get braces for a child, pay books and college tuition, or start a college fund for their children."
"Also keep in mind that eligible families who did not receive the Advanced Child Tax Credit Payments in 2021 still can claim the full amount of the CTC on their 2021 federal tax return, filed this year,” the Mayor continued. “And this 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 a part the Tax Time Allies network”, said Dr. Tina White, Director of LABC. “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 offer a new Tax Time Connect initiative to encourage tax filers to get banked with Bank On certified accounts, and to choose direct deposit for their tax refund. A Financial Advocate will be available to provide additional support for filers as they open bank accounts and learn how to use that account to manage their money. Bank On Louisville is a collaborative partnership between local government, financial institutions and community organizations that work to improve the financial stability of unbanked and underbanked residents in our Louisville community.
For information on how to access the 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 the AARP Tax Assistance Program is made possible by Metro United Way, Louisville Metro Government, the IRS, dozens of other partners, and dozens of volunteers.
For a list of VITA tax assistance site locations including drop-off 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 Intuit Financial Freedom Foundation
Intuit Financial Freedom Foundation is Intuit’s charitable foundation dedicated to public/private/not-for-profit partnerships and programs that help bring opportunities to prosper to all, especially those living with lower incomes. Intuit believes citizen engagement in preparation and filing of tax returns is an important, empowering opportunity for Americans to understand and improve their personal financial lives. This is especially true for lower income Americans – and why Intuit has donated TurboTax to millions, founded “Tax Time Allies,” and provides funding and other support to nonprofits that build financial freedom – including savings – for those who need it the most.
About Tax Time Allies
Tax Time Allies is dedicated to empowering working individuals and families to take control of their finances and save more of their hard-earned money. Allies deliver free IRS sponsored taxpayer assistance programs -- VITA, Tax Counseling for the Elderly, Free File -- to low- and moderate-income individuals and families. Allies also help families learn how to invest part of their tax refund to increase savings for financial stability. The Intuit Financial Freedom Foundation is proud to sponsor and financially support Tax Time Allies. For more information please visit www.TaxTimeAllies.org
History of 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 for families with household incomes up to $66,000. Since taking office in 2011, Mayor Fischer has worked closed with Metro United Way to help grow and support the impact of LABC. That includes embedding LABC as a quasi-Metro agency in a partnership to expand its emphasis on financial empowerment. This year’s integration of Bank On Louisville’s banking access efforts to the tax-season services is just one example of the city’s work to ensure residents have the tools they need to build their financial stability.