Monthly Archives: February 2012

Guest Post: Savings at Tax Time

Start saving today!

Tax time provides a great chance for our clients to save

America Saves Week is February 19-26, 2012. To find out more, visit americasavesweek.org.

As we all know, tax time is a great time for our clients to put part of the disposable tax refund into savings for an emergency safety net to be available throughout the year if needed. Unfortunately, many of our clients are unaware of the great opportunities to start saving and use a savings vehicle that will draw interest while sitting in an account for emergencies.

Some of the alarming statistics include: Read the rest of this entry

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What’s Going on at Instant Tax Service?

JLC Interview

NCTC Executive Director Jackie Lynn Coleman talks to a reporter about the questionable practices paid preparers sometimes employ

Would it surprise you to hear that there are questionable practices going on at the offices of some paid preparers this tax season? Of course not. But for a couple groups, the media exposure of these practices is really picking up.

On Tuesday, NCTC Executive Director Jackie Lynn Coleman went on CBS-Houston to talk about preparers who are using old customer information to file new returns without their permission.

Read the rest of this entry

Paid Preparers: NCTC Provides Assistance in Launch of New Chicago Preparer Regulations

Mayor Emanuel

Chicago Mayor Rahm Emanuel

During a press conference today, Chicago Mayor Rahm Emanuel announced his new proposed ordinance to more closely regulate paid preparers and enhance protections for consumers of these tax services. Citing tax data analysis provided by the National Community Tax Coalition through its Center for Economic Progress affiliate in Illinois, Mayor Emanuel highlighted the dramatic drain predatory practices and refund products have created for Chicago’s low-income working families. Read the rest of this entry

First Marker on the Table for FY13 Budget Talks

FY2013 Budget

The President's budget sustains VITA grant funding at $12 million

The federal budget process is a drawn-out and difficult affair, especially when there are too few resources to help families who struggle with too many important needs. But Volunteer Income Tax Assistance represented a relatively bright spot Monday in the first public step of Fiscal Year 2013 budget discussions.

The President’s proposed budget for the next year included $12 million for the Community VITA grant program, sticking with the current funding level for crucial, tax-preparation services on which millions of low-income, working families depend. Read the rest of this entry

Protect VITA and Refundable Tax Credits!

Postcard

Clients will be filling out postcards all across the nation!

Nothing resonates with legislators quite like client stories. Whether its a single mom trying to save for her kids’ college fund or a family of five just trying to make ends meet, decision-makers need to know the impact VITA and refundable tax credits have on their constituents. That’s why NCTC is launching a client stories campaign and asking you to participate! Read the rest of this entry

NCTC Releases 2011 State of the Field Report

SOTF Cover

The second annual State of the Field Report

If you’re like us, tax season has completely consumed you. And if you’re reading this, you’ve probably only got a few minutes before something else pops up – just enough time to think about 2011 and all we’ve done together.  NCTC is proud to release our 2011 State of the Field Report, highlighting the success our field shared together last year.

More than ever, our members in the community tax preparation and asset building field have collectively improved the lives of our clients. Whether preparing a simple tax return, opening a bank account, filling out a FAFSA or screening for benefit eligibility, each and every client is closer to financial stability than when they walked in the door.

Despite the overwhelming challenges, we improved in nearly every conceivable category. Read the rest of this entry