Questions to ask:

  1. How many tax preparation locations are there in what areas of town?
    1. Answer: 42 locations in 6 counties – list on web site – jaxprosperity.org


  2. Which families are you trying to serve?
    1. Answer:

                                                               i.      Primarily low to moderate income individuals who qualify for Earned Income Tax Credit

1.       Either family income of $38,500 or less or

2.       People 60 and older who are still working

  1. What should people bring to the tax sites?
    1. Answer:

                                                               i.      Picture IDs for people filing, husband and wife each need a picture ID

                                                             ii.      Social Security cards for ALL dependents claimed

                                                            iii.      Documents for:

1.       Income – W-2s, 1099s, records for tips

2.       Deductions – mortgage interest statements, real estate tax statements, charitable deduction receipts, etc.

3.       Banking information – blank check or routing number for each bank the refund will be deposited in

  1. What’s new this year?
    1. Telephone excise tax refund

                                                               i.      Anyone who had a telephone and paid their phone bills through August of 2006 can get between $30 and $60 in refunds even if they don’t have to file a tax return for any reason

    1. Split refunds

                                                               i.      The IRS will allow people to electronically deposit money in up to 3 different bank accounts—so it’s never been easier to save part of your tax refund

  1. What other free services does the RealSense Prosperity Campaign provide?
    1. Through our partner members, we also provide:

                                                               i.      Free financial education – see our web site for class list and locations

                                                             ii.      Free financial counseling – through Family Foundations

                                                            iii.      Free matched savings accounts where each dollar saved is matched by $2, through Fresh Ministries or Northeast Florida Community Action Agency

  1. What should people be aware of (or watch out for)?
    1. Answer:  Any organization who offers them a refund anticipation loan—that is just what it says it is—a loan, so they will pay very heft interest percentages; in addition, they will pay fees for the actual tax preparation and electronic filing fees.  RealSense tax sites do all of this for free.

  2. Why do you do it for free?
    1. Answer:  We are a community collaboration of volunteers whose parent organization is United Way of Northeast Florida.  We are endorsed by the Mayor’s office and grant funded and our goal is to produce a stronger, more financially stable community.

  3. How qualified are your tax preparers?
    1. All of our tax preparers are trained and certified by either the IRS or AARP Tax Aide trainers.  Some of our volunteers have been preparing taxes for 10 years or more.

  4. How can people find out where you are located?
    1. Answer:  Either go to our web site – jaxprosperity.org or call United Way 2-1-1 at 632-0600 or toll free at 1-866-318-0211 to find the location nearest you.

  5. Anything else you’d like to add?
    1. We’re here tonight to answer big questions about whether or not individuals will likely qualify for earned income tax credit; we are not allowed—in this setting—to answer tax questions.  For people with tax issues or complicated situations, they should call the IRS hotline at 1-800-491-1040
    2. We’d like to invite people to attend our Tax Season Kickoff Event on January 23, 2007 at the Potters House Christian Fellowship on Normandy Boulevard, 8:30 a.m.

The RealSense Prosperity Campaign Background:

•          Is entering its 4th tax season as a coalition

•          Provides the following free services through its partner members:

•          Income Tax Preparation by IRS-certified volunteer preparers

•          Has 42 volunteer tax preparation locations for the coming tax season

•          Utilizes electronic filing - refunds within seven to ten business days

•          Provides an opportunity to sit down with financial institutions and to open or re-open a bank account  

•          Provides free Financial Education – from basic budgeting to writing a business plan

•          3 sets of curricula taught 10 or more times during the month in various locations

•          Provides free Financial Counseling to help people manage their money better

•          Provides an opportunity to enroll in matched savings accounts at $2 for every $1 saved

 

Earned Income Tax Credit Qualifications for 2006 Tax Year (beginning in January 2007):

 

§         Family/single person with no children and income under $12,120 (if married, less if single) can get refund up to $  412

 

§         Family/single person with 1 child and income under $34,001 (if married, less if single) can get refund up to $2,747

 

§         Family/single person with 2 children and  income les than $38,348 (if married, less if single) can get refund up to $4,536

 

Qualifications for Individual Development Accounts:

 

           Household Size          Family Income

1                       $ 19,600 or less

2                       $ 26,400 or less

3                       $ 33,280 or less

4                       $ 40,000 or less

5                       $ 46,800 or less

6                       $ 53,600 or less

7                       $ 60,400 or less

8                       $ 67,200 or less

  

Coalition Results to Date:   

 

In the three year history of the coalition:

 

§         Almost 12,000 total tax returns completed through the coalition

§         $  9.1 Million into the community through Earned Income Tax Credit and Child Tax Credit Dollars

§         $  1.2 Million saved on paid tax preparers

§         $    .6 Million in matching money to enrolling clients through Individual Development Accounts