FINANCIAL STABILITY

We have consistently found that financial instability is the one root causes of many of our community's problems. Our goal is to create lasting change while finding ways to bring immediate improvement to the financial situation of Salem County families. Our plan is to create innovative strategic initiatives and partner with community agencies to educate, encourage and enable families to prepare for financial emergencies and plan for the future by helping working families and low-income residents move toward greater economic stability and higher earnings.
 

VITA Site/ Tax Preparation

Free Tax Preparation Service

Last year was the first year that the United Way of Salem County, Inc. served as a VITA (Volunteer Income Tax Assistance Program) site.

Results: Thanks to the help of our volunteers and staff, we filed 96 returns for residents of Salem County which resulted in over $72,500 worth of total refunds.

When? Tax appointments were scheduled between February 16 through April 12, 2007.

Who was Eligible? Single people who made less than $25,000 and Families who made less than $40,000 annual income in 2006 could have gotten their taxes prepared for free.

Thank You! Once again, we would like to thank all of our volunteers who took time out of their schedules to be trained and to serve as preparers. 

What is VITA?
VITA stands for Volunteer Income Tax Assistance Program. The VITA Program offers free tax help to low- to moderate-income (generally, $40,000 and below) people who cannot prepare their own tax returns. Certified volunteers sponsored by various organizations receive training to help prepare basic tax returns in communities across the country. VITA sites are generally located at community and neighborhood centers, libraries, schools, shopping malls, and other convenient locations. Most locations also offer free electronic filing.

What is EITC?
The Earned Income Tax Credit (EITC) sometimes called the Earned Income Credit (EIC), is a refundable federal income tax credit for low-income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.

To qualify, taxpayers must meet certain requirements and file a tax return, even if they did not earn enough money to be obligated to file a tax return.

The EITC has no effect on certain welfare benefits. In most cases, EITC payments will not be used to determine eligibility for Medicaid, Supplemental Security Income (SSI), food stamps, low-income housing or most Temporary Assistance for Needy Families (TANF) payments.

WHAT YOU NEED TO BRING!

   Proof of identification

  Social Security Cards for you, your spouse and dependents and/or a Social Security Number verification letter issued by the Social Security Administration

   Birth dates for you, your spouse and dependents on the tax return

   Current year’s tax package if you received one

   Wage and earning statement (s) Form W-2, W-2G, 1099-R, from all employers

  Interest and dividend statements from banks (Forms 1099)

   A copy of last year’s Federal and State returns if available

   Bank Routing Numbers and Account Numbers for Direct Deposit (Optional)

   Total paid for day care provider and the day care provider's tax identifying number (the provider's Social Security Number or the provider's business Employer Identification Number)

   To file taxes electronically on a married filing joint tax return, both spouses must be present to sign the required forms.

It is extremely important that each person use the correct Social Security Number (SSN).  The most accurate information is usually located on your original Social Security card. Each year hundreds of thousands of returns are delayed in processing, or credit/deductions are disallowed because names and Social Security Numbers do not match Social Security Administration records. To prevent processing delays in paper returns and rejected electronically filed returns, volunteers check the accuracy of each Social Security Number, as well as the spelling of the name associated with the number.  If you do not have a Social Security Number for you or a dependent, you should complete Form SS-5, Social Security Number Application and submit it to the nearest Social Security Administration Office.