Agency Details:

Hartford Earned Income Tax Credit Campaign

The mission of the Hartford Earned Income Tax Credit Campaign is to increase the income of low-income tax filers and to help them build wealth. To accomplish these goals, the Campaign helps filers claim tax credits for which they are eligible and files their returns electronically for free. The Campaign also provides information about money management and financial planning to make good use of the money saved by free filing.

Description:
Filers with annual household incomes below $40,000 can visit conveniently located Campaign Volunteer Income Tax Assistance (VITA) sites all over Hartford, at convenient times, every day of the week. Service is available in English and Spanish. Besides offering free filing, VITA sites are portals to a whole menu of financial education and asset building programs and initiatives. At sites filers can sign up for dinner-workshops on personal money management and financial planning topics. They can register for budget coaching offered through the auspices of the United Way sponsored Working Families Initiative. They can open Hartford Federal Credit Union savings accounts on the spot. They can arrange to meet a counselor to help them review their credit reports and deal with issues that appear there. They can obtain information about programs offered by Hartford Asset Building Collaborative (HABC) partner agencies, such as Individual Development Accounts and homeownership programs. They can consult with an asset building specialist to discuss options suitable for them in their present circumstances.
The Campaign is an HABC project. HABC’s mission is to support family economic security by bringing together participating organizations to develop and leverage resources that promote financial education and asset development opportunities for low and moderate income residents of Hartford and surrounding communities. Coordinated by Co-opportunity, Inc., HABC is a consortium of community based organizations, funding partners and financial institutions, and economic development organizations. Through the EITC Campaign, HABC is able to promote family economic security by leveraging the resources and capacity of its members and numerous affiliated partner organizations.

History:
HABC has its origins in the Hartford IDA Collaborative which was founded in 2001 to promote Individual Development Accounts (IDAs). One of the best known asset building strategies, IDAs are matched savings accounts designed to help savers invest in assets, such as homes, small businesses, and post-secondary education. In 2004, Collaborative partners agreed to take a more comprehensive approach to providing financial education and savings programs, a change reflected in HABC’s new name.
HABC assumed responsibility for running the EITC Campaign in the 2005 tax season.
With the support of Hartford Mayor Eddie Perez, the Campaign collaborates in planning and implementation with the IRS, Hartford Making Connections, the United Way of the Capital Area and the UCONN Law School Tax Clinic. The Campaign is part of a broader response to changes in the welfare system and other federal policies that have moved families off public assistance and into the labor market. Even with a steady job, many working families are struggling to make ends meet, lack financial skills to properly manage their money, and have difficulty accessing mainstream financial services. Additionally, people with limited education, English ability, and financial skills often find the process of preparing their tax returns difficult to complete without assistance.
The EITC is the largest federal tax benefit to citizens who meet the EITC income threshold. In the city of Hartford, over 70% of taxpayers are eligible for the EITC benefit; however, in recent years only 43% received it. Of those receiving the benefit, many recipients' returns are eroded by paid tax preparer fees and "rapid refund" refund anticipation loans (RALs). The Campaign strives to assure that all eligible families claim refunds and tax credits due them, that they receive prompt refunds through electronic filing and direct deposit, and that they save on filing and RAL fees, that can run as high has 20% of what they are due. In 2007, the Campaign served 3672 filers and returned $9.2 million to the local economy, a 73% increase in volume in 3 years. HABC expects to see continued strong growth in numbers served and economic impact in 2008.

Contact people:

Laura O'Keefe, Volunteer Manager, (phone), (email) Michelle Sharma, (phone)

Office fax number: (860) 808-1757

Address:

Co-opportunity, Inc., 20-28 Sargeant Street Hartford, CT 06105 (See a map)

Web Site: http://www.co-opportunity.org

Last updated on June 18, 2009