VITA stands for ‘Volunteer Income Tax Assistance’ and it’s a free service that helps low-income families recoup thousands of dollars at tax time.
How much is at stake? More than many taxpayers might imagine. Families earning under $54,000 annually may qualify for thousands of dollars of tax credits.
Plus, because VITA tax service is free, families struggling to make ends meet can also avoid the expense of hiring a professional tax preparer.
Liberty Bank Foundation funds VITA assistance through the Connecticut Association for Human Services (CAHS). Check out what it did for income-tax filers in 2017:
In Greater Waterbury, 1,295 returns were prepared by volunteers at CAHS participating locations; $271,950 was saved in tax preparation fees; and filers received a total of $902,609 in refunds and another $210,242 in earned income tax credits.
In the lower Naugatuck Valley, 987 returns were filed; $209,727 was saved in tax preparation fees; and $1,433,403 was paid in refunds an another $210,242 in earned income tax credits.
What could you do with a hefty tax refund? Pay off some bills? Catch up on rent? Stock your food shelves? Get a car repair? A VITA windfall for those who qualify could make all the difference in easing financial circumstances.
Need help preparing your income taxes? Go here to find a VITA site near you.