Keep every penny of your tax refund during tough economic times
ST. PAUL, MN (Jan. 28, 2010) – Have your taxes prepared fast and free by IRS-certified volunteers at AccountAbility Minnesota, a nonprofit organization dedicated to moving Minnesotans out of poverty by creating pathways to enhance income. Free tax assistance and financial services are offered now through April 15 at 12 sites throughout the Twin Cities metro area.
“At AccountAbility Minnesota we do more than file taxes,” said Tracy Fischman, AccountAbility Minnesota executive director. “We help Minnesotans use their refund to move from ‘getting by’ to ‘getting ahead.’ That means helping taxpayers to claim credits that they’ve earned – credits that can increase income by 40 percent – and offering financial services that help put individuals on the path to financial stability.”
During these tough economic times of high-unemployment, reduced wages and scaled-back hours, AccountAbility Minnesota helps taxpayers to claim the highest return and keep every penny of their refund. A team of nearly 400 IRS-certified volunteer tax preparers are trained to identify little-known credits that make a big difference in the lives of working individuals and families. In 2009, AccountAbility Minnesota and its partners helped more than 17,250 taxpayers receive $29.6 million in refunds.
Tax credits can significantly boost income
AccountAbility Minnesota is equipped to help taxpayers identify all credits they’ve earned. With the Recovery and Reinvestment Act (ARRA), the following credits have been introduced or expanded:
• Earned Income Tax Credit: Who qualifies? Single or married people working full- or part-time in 2009. With the ARRA, qualifying income levels have been raised depending upon number of children. Amount? Refund could be as much as $5,657 depending upon qualifications.
• Child Tax Credit: Who qualifies? Single or married worker with a child under age 17. With ARRA, the earned income threshold has been reduced to $3,000 for the refundable portion of the credit, the Additional Child Tax Credit. Amount? Federal credit worth up to $1,000 in 2009 for each child under age 17.
• Making Work Pay Credit: This ARRA credit of $400 for individuals and $800 for couples was applied to most working individuals’ paychecks in 2009. However, not everyone saw the credit in their paychecks and therefore will need to claim it on their return. Who qualifies? Workers who earned too little in 2009 to have income tax withheld, self-employed workers who did not reduce amount of income tax paid in 2009 and those who did not work enough in 2009 to receive the full credit in their paychecks.
Making refunds grow
At many tax clinics, AccountAbility Minnesota partners with various financial institutions to offer services that will help taxpayers use their refunds to start planning for the future.
• Express Refund Loans and Savings Program:
Savings Accounts: Taxpayers can open a savings account regardless of financial history.
Express Refund Loans: Eligible taxpayers can apply for a low-cost loan that will provide them with their federal refund in 1-2 business days. Limited amount available.
• Financial counseling: Free one-on-one help with financial planning – help setting household budgets, savings plans and more.
• Credit reports and counseling: Free copies of credit reports and tips and how to repair or improve it.
• U. S. Savings Bonds: New this year, tax filers have the option to save by purchasing a U. S. Savings Bonds with their tax refund through the tax return, a feature that has not been available since 1968.
Free tax clinic locations and hours
AccountAbility Minnesota prepares taxes for individuals making $30,000 or less, families making $50,000 or less and sole-proprietors making $50,000 or less annually. Tax sites are open select days January 26 through April 15 at the following locations:
AccountAbility Minnesota (site co-sponsored by Lurie Besikof Lapidus & Co. LLP), 2610 University Ave. W., Suite 450, St. Paul, MN 55114.
Tuesdays through Thursdays, 11 a.m. and 5:30 p.m.; Saturdays, 8:30 a.m.
Extra services: Spanish-language interpreters, Express Refund Loans and savings accounts, credit reports, financial planning, benefit screening
Eastside Financial Center, 965 Payne Ave., St. Paul, 55106.
Tuesdays and Thursdays, 5:30 p.m.; Saturdays, 8:30 a.m.
Extra services: Express Refund Loans and savings accounts
Hallie Q. Brown Community Center (Martin Luther King Community Center), 270 N. Kent, St. Paul, MN 55102.
Tuesdays and Thursdays, 5:30 p.m.; Saturdays, 8:30 a.m.
Extra services: Express Refund Loans and savings accounts
Liberty Plaza, 290 Arundel St., St. Paul, MN 55103.
Tuesdays and Thursdays, 5:30 p.m.
Extra services: Somali and Oromo interpreters
NeDA, 481 S. Wabasha St., St. Paul, MN 55107.
Saturdays, 8:30 a.m.
Extra services: Spanish-language interpreters
Tubman, 4432 Chicago Ave. S., Minneapolis, MN 55407.
Tuesdays and Thursdays, 5:30 p.m.
Extra services: Spanish-language interpreters
La Conexión, 1100 Anderson Lane, Minneapolis, MN 55407.
Saturdays, 8:30 a.m.
Extra services: Spanish-language interpreters
Lutheran Social Service of Minnesota, 2400 Park Ave. S., Minneapolis, MN 55404.
Tuesdays, 5:30 a.m., Saturdays, 8:30 a.m.
Extra services: Express Refund Loans and savings accounts
Minneapolis Urban League, 2100 Plymouth Ave. N., Minneapolis, MN 55411.
Tuesdays and Thursdays, 2 p.m. and 5:30 p.m.; Saturdays, 8:30 a.m.
Extra services: Express Refund Loans and savings accounts, benefit screening
Creekside Community Center, 9801 Penn Ave. S., Bloomington, MN 55431.
Tuesdays and Thursdays, 5:30 p.m.; Saturdays, 8:30 a.m.
ResourceWest, 915 Mainstreet, Hopkins, MN 55343.
Tuesdays and Thursdays, 5:30 p.m.; Saturdays, 8:30 a.m.
WorkForce Center, 7115 Northland Terrace, Suite 100, Brooklyn Park, MN 55428.
Saturdays, 8:30 a.m. Jan. 30 through Feb. 20 only.
Extra services: Express Refund Loans and savings accounts
Downloadable 2010 tax clinic schedule brochure.
AccountAbility Minnesota assists Minnesotans to move out of poverty by providing pathways to increase income, build assets and become financially secure, and by advocating for change that breaks down barriers to financial success. They do so by providing free tax assistance to working taxpayers in the Twin Cities, and helping them to maximize the tax credit refunds they are due to significantly boost their incomes; providing technical assistance to other organizations throughout Minnesota; and partnering with financial institutions and community organizations to expand access to financial products and services that encourage low- and moderate-income taxpayers to use their cash credits to build assets and improve their long-term financial security.
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