Monthly Archives: August 2013
NCTC recently received confirmation from IRS SPEC leadership that the 16 VITA programs currently participating in the Schedule C Initiative will once again be permitted to assist clients with Schedule C tax return filings during the 2014 filing season. This is a reversal of a previous decision earlier this year, and we wholeheartedly thank IRS SPEC and Wage and Investment leadership for their reconsideration and recognition of the importance of this initiative for our clients. Read the rest of this entry
After years of learning about our unbanked and under-banked populations, we know that the needs, wants, and actual uses of prepaid debit cards differ for each client. Many variables influence how a prepaid debit card is used, including household size, education, employment status, income levels, access to technology, and computer competency. Clients are able to use the NetSpend prepaid card as a method to receive their tax refunds and can take advantage of the card’s more extensive options- online budgeting tools and payback perks. Clients are provided a $10 spending cushion without overdrafting their accounts, a savings bucket with 5% APR, and helpful budgeting and financial management guidance. Read the rest of this entry
As tax-policy questions fill the nation’s capital, Congressman Danny Davis received both thanks and encouragement for his related, anti-poverty efforts during a visit to NCTC member organization, Center for Economic Progress (CEP) on August 13th.
U.S. Rep. Davis, who represents Illinois’ 7th congressional district, visited CEP during one of its regular “Money Action Days” Tuesday. Read the rest of this entry
Last Friday, President Obama officially signed into law a bipartisan compromise bill that lawmakers say will save students thousands of dollars in student-loan interest payments after they graduate. NCTC, particularly through the Financial Aid U and College Assistance Programs, is committed to ensuring low- and moderate-income students are able to afford the higher education they want to get ahead. Here’s a brief overview of the compromise that was reached, after this summer saw a flurry of proposals and counter-proposals attempting to address the student loan issue. Read the rest of this entry
The National Community Tax Coalition (NCTC) will be hosting its 9th National Conference September 10-13 in New Orleans, LA! The Conference, titled March Forward, is the premiere conference for the community tax preparation and asset building field. More than 400 attendees are expected to come together to learn, network, and celebrate as a field! Read the rest of this entry
VITA and other free tax prep-sites have long been dedicated to promoting improved financial well-being for their clients. Beyond the value of direct service, one of the most important roles that free tax prep sites can play is by serving as partners in research projects examining the strength and viability of different strategies to boost the financial security of vulnerable American families.