What is “Earn It Keep It Save It?”
In concert with United Way of Southern Nevada’s Impact Area of Financial Stability, the “Earn It Keep It Save It” collaborative provides free tax preparation, helping families whose household income is less than $51,000 earn the Earned Income Tax Credit (EITC) and other federal tax credits. Through a general grant from the IRS and matched funding from local partners, United Way supports roughly 34 Volunteer Income Tax Assistance (VITA) sites across the Las Vegas Valley. VITA sites are staffed by IRS trained and certified volunteers who prepare tax returns at no cost to qualifying individuals and families. Families earning this credit use their refund for immediate needs, such as rent, food and bill assistance, yet many put their refund into savings for college, a house, or an emergency fund for the long term.
How did “Earn It Keep It Save It” impact Southern Nevada in 2012?
- 5,641 individuals and families received free tax preparation
- The program saved the community an estimated $733,000 in preparation and filing fees
- $7.2 million in refunds was brought back to the community by hundreds of dedicated volunteers
- 1,428 hard-working, low-income families received $2.5 million in EITC
- Over $3.8 million was brought back in federal tax credits that provided low-income families, seniors and students with a financial boost they desperately needed.
How is “Earn It Keep It Save It” impacting Southern Nevada this year so far?
This year, we are proud to announce that the program is even more successful than last year, impacting more families with the Earned Income Tax Credit. Our metrics as of April 12th, 2013 are:
- 5,925 individuals and families received free tax preparation
- $8.2 million in refunds was brought back to the community by hundreds of dedicated volunteers
- 1,525 hard-working, low-income families received $2.7 million in EITC
What is the Earned Income Tax Credit (EITC)?
- The Earned Income Tax Credit (EITC) is one of the nation’s most effective anti-poverty programs. An EITC refund helps pay the rent, buy groceries, cover utility bills and builds savings for future needs.
- The EITC is a financial boost for hard-working people, particularly those suffering in a recovering economy. However, many hard-hit families may not even know that this vital credit exists when, in fact, millions of workers will qualify for the EITC for the first time this year.
Nevadans have received an average EITC worth $2,280 for each taxpayer who claimed the credit. The EITC can be worth as much as $5,891 for a family with three children.
See the benefits of United Way’s service in action
Jeramy was shocked when he learned what he would get back in his taxes. The unexpected surprise for the dad of two came not a moment too soon.
“Because of the tax return, I was able to move into a much safer home for my sons and I was able to purchase a much-needed vehicle,” said Jeramy. “Also, I was able to open a bank account and put some money aside for savings… My preparer was able to get me a much larger refund than expected due to the tax credits I wasn’t aware of, and on top of it all the service was free!”
Jeramy is one of over 5,000 individuals and families who have discovered how easy and beneficial it is to visit an “Earn It Keep It Save It” tax preparation site. With a staggering $7.2 million in tax refunds, including $3.8 million dollars in tax credits brought back to the southern Nevada, families now have the extra money that they need to survive and thrive.
The 2013 tax season has ended, except for those who filed for extensions or need back year returns prepared. Several of our sites are still open to serve you.
Individuals and families must have a household annual income of $51,000 or less to be eligible for the “Earn It Keep It Save It” free tax preparation program.