NORWICH – Chenango United Way has announced that it has received a grant from United Way of New York State to help individuals and families Chenango County to obtain tax preparation assistance and unrealized tax refunds through the Earned Income Tax Credit (EITC). United Way of New York State is one of just two statewide and 31 local United Ways across the nation to receive grants from a unique national partnership between United Way of America and the Bank of America Charitable Foundation. More than $500,000 is supporting EITC efforts across the country, with Bank of America associate volunteers participating in many local efforts as well.
“This Bank of America investment in EITC work in New York State will further enhance our efforts to promote a critical program that increases eligible families’ access to the tax credit. Last year’s EITC outreach & free tax prep services, resulted in more than $14 million in federal and state EITC refunds to eligible New York State working families. Local coalitions are reporting even greater success this year,” according to Mary A. Shaheen, Vice President for United Way of New York State.
EITC campaigns, as they are commonly called, typically include marketing and outreach to eligible filers; free tax preparation for low-income individuals and families (those earning under $38,000 annually) using volunteer tax preparers; financial education and other asset building opportunities. These campaigns are spearheaded by local coalitions that include United Ways, the IRS, financial institutions, human services organizations, local colleges and universities and the IRS.
United Way of America and Bank of America are committed to increasing the financial stability and long-term economic independence of low-to-moderate income individuals and families nation-wide,” said Brian A. Gallagher, President and CEO of United Way of America.
United Way of America will provide leadership and technical assistance to the 33 participating United Way organizations and will coordinate key project components, including; creation of goals, objectives and outcomes; compliance with grant guidelines; fund disbursement; and national reporting on the results of the partnership, including the number of taxpayers helped. Statewide and local United Way grants recipients will be responsible for strategic administration and oversight of grant resources by the community-based EITC coalition and will work with local Bank of America employees to promoted volunteer opportunities regarding EITC outreach and free tax preparation.
Bank of America’s investment in NYS through United Way of New York State is targeted to the more rural communities of the state. Chenango United Way is one of the NYS United Ways selected by United Way of NYS to receive an EITC capacity building grant to support local EITC outreach and free tax preparation services in the amount of $2,050. Based on support from the United Way of New York State, the Chenango County EITC Partnership Committee was created in 2004 in an effort to raise local awareness about the earned income credit and to increase the availability of free tax preparation sites in the Chenango community. Members of the local EITC Partnership Committee include the Chenango United Way, Opportunities for Chenango, Cornell Cooperative Extension, AARP Tax Aid, Colgate University and the Upstate Institute, GHS Federal Credit Union, the IRS, NBT Bank, Morrisville State College and Partners Trust Bank. In 2004, 41 tax returns were filed through the project and $39,688 was returned to Chenango County in earned income tax credits. In 2005, 150 tax returns were filed and $139,835 was returned to Chenango County in earned income tax credits. The goal for 2006 is to complete and file more than 275 tax returns through the Chenango County project, which ends in mid April.