Another Successful Tax Prep Season!

Here at Centerboard, we’ve had another very successful VITA season. VITA stands for Volunteer Income Tax Assistance. It is an amazing program that engages local volunteers and pairs them with that community’s residents who need quality tax preparation. The volunteers are trained and certified by the IRS and there is no cost to participate for those getting their taxes done. An important element of the program is to inform people on the various tax codes that may apply to them. One of these is the Earned Income Tax Credit. The EITC is a refundable tax break provided by the state of Massachusetts in order to provide a meaningful boost to the after-tax earnings of low-income working families. It is available only to tax filers with earned income and provides benefits primarily to workers with children.[1]

The Earned Income Tax Credit is a valuable resource to working families as it provides some financial relief for those trying to stay out of poverty. We all know that poverty affects children the most and through this credit, hard working families are able to provide more to ensure that their children are able to live a healthier life.

During this year’s tax season, our VITA program was able to process over $200,000 in returns via the Earned Income Tax Credit. We were able to help numerous families while also providing a boost to Lynn’s local economy. Thanks to BMC HealthNet Plan for sponsoring this important community initiative!

 

[1] www.massbudget.org