April 17, the IRS filing deadline for Tax Year 2011, is just around the corner. Help make sure your IDA program participants make the most of their filings by marketing the Earned Income Tax Credits (EITC) and other credits, and providing or helping them access free tax preparation assistance.

Last year, over 26.8 million taxpayers received almost $59.5 billion in EITC. This year, eligible taxpayers can receive up to $5,751 from ETIC, and even more if they live in a state with a similar state credit. Additional tax credits, such as the Higher Education Tax Credit and the Child and Dependent Care Tax Credit, can also help put money back in the pockets of your program participants.

Tax time provides an opportunity for asset building organizations to address their program participants’ overall financial security. With freshly filed tax returns in hand, your participants can easily apply for mainstream benefits or complete the Free Application for Federal Student Aid (FAFSA). With many individuals and families receiving a large sum of money from their tax returns, the tax season is also a good time to encourage your program participants to save. The IRS has made it easy for filers to save money by allowing them save a portion of their tax returns into U.S. Savings Bonds directly on the tax form.

Even if your organization does not provide free tax preparation services, you can help your program participants to access tax preparation services by locating a local Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) program in your area. Simply enter your zip code in the IRS Get Free Tax Prep Help finder and find a list of all the VITA and TCE sites within anywhere from 5 to 100 miles of your location.

Some AFI Grantees have partnered with organizations in their communities to provide one-stop-shop tax preparation and savings services to low income families and individuals. Oakland Livingston Human Services Agency, A Community Action Agency (OLHSA), in partnership with trained tax volunteers through the Accounting Aid Society (AAS), has been offering comprehensive services to all of their tax clients every Saturday since January 28, and on Wednesdays by appointment for the months of February and March.

In addition to the free tax preparation by AAS, OLHSA has provided trained staff to assist clients with completing the FAFSA form online. They have also helped individuals and families apply for food assistance, State Emergency Relief (SER), and medical insurance for children under 18 and/or pregnant women. By attending a tax clinic, filers can access OLHSA’s program that provides access to benefits, budgeting and credit counseling, and employment services. OLHSA uses these services along with their IDA program to encourage asset building and work one on one with any client who is interested in gaining more knowledge on how to acquire assets.  

OLHSA will continue to offer their services this season through Saturday, April 14.

View additional Tax Assistance and EITC resources on IDAresources.org.

Learn more about OLHSA.

The AFI Resource Center will host three orientation webinars for new grantees in April and early May covering the fundamentals of running a successful AFI project. New grantees are strongly encouraged to participate. The series may also be a helpful refresher for all grantees.

Orientation and Accessing AFI Grant Funds

Learn how to access your new federal funds. We'll discuss direct deposit procedures, steps to draw down federal funds, and Project Reserve Fund guidelines.

Thursday, April 19, 2:00 – 3:30 p.m. EDT.

Reporting Requirements

Learn the "What, Where and When" of AFI Reporting Requirements. This includes the SF PPR, SF 425, and the annual data report.

Tuesday, April 24, 2:00 – 3:30 p.m. EDT.

Data Management and the AFI² System

This training session provides an overview of the AFI² project management system for AFI grantees. We will discuss the features and organization of the AFI² system, as well as the ways in which it helps you manage and report on your project.

Thursday, May 3, 2:00 – 3:30 p.m. EDT.

For more information, please contact the AFI Resource Center on 1-866-778-6037 or info@idaresources.org.

The IRS recently released application information about the 2013 Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) grant programs. The VITA Grant offers benefits to organizations interested in serving individuals with low-to-moderate income, the elderly, persons with disabilities and limited English proficiency, and Native Americans. The TCE grant provides benefits to organizations who serve persons 60 years of age or older.

The 2013 application period will be May 1 – May 31, 2012. Application packages will be available electronically in late April. Notification of selection will be made by October 1.

To learn more about the VITA and TCE programs, and to learn more information about the application, view Publication 4680, Grant Programs Marketing Brochure.

Is your organization looking for a resource to teach IDA program participants about taxes? The IRS Understanding Taxes curriculum is an interactive tax education program designed middle school, high school, and community college students.

The curriculum contains a web-based student site, which viewable to the general public and contains tax tutorials, interactive tax activities, simulations, and assessments. The curriculum also contains a teacher site with materials for classroom-based delivery. The teacher site contains a lesson plans, fact sheets, and information about national and state educational standards. Both curriculums contain lessons on the “hows of taxes” and the “why of taxes” – how taxes work, and the history behind taxation in America.

Interested in learning more? Visit the IRS Understanding Taxes website.

The last day to apply for an AFI grant in 2012 is May 25, 2012. The AFI Resource Center will continue to host a series of calls and webinars to help prospective applicants develop a grant application. Register online now to participate in these interactive calls and learn more about AFI application requirements and procedures.

• Tuesday, April 10, 2:00 p.m. EDT.: Tips for Developing Resources and Partners for AFI Projects
• Thursday, April 26, 2:00 p.m. EDT.: AFI Program Overview and Grant Application Process

Additional information about applying for an AFI grant is available in the Apply for an AFI Grant section of IDAresources.org.

In Santa Fe, NM, the AFI Resource Center will sponsor a financial education academy entitled: Content and Skills for Making Financial Education Effective and Engaging: Financial Education Training for Trainers: The Next Level. This training is designed for those who attended the Level One training previously or who have three or more years of direct financial education experience. The training is designed to provide AFI grantees and others with opportunities to further develop their financial education delivery skills and content knowledge on advanced financial education topics. The training includes the following topics:

• Using and combining different approaches to deliver financial education and the level of outcome/impact to be expected using these approaches.
• Applying the core concepts of behavioral economics to financial education program design.
• Using new activity ideas in the context of financial education.
• Keeping participants motivated during the financial education learning process and using new skills, resources and financial management services/products as a result of financial education efforts.
• Facilitating sessions on:
  • principles of saving and investing in the new economy
  • asset protection
  • consumer protections including consumer rights and responsibilities
  • credit scores
• Integrating concepts of media and economic literacy into financial education efforts.
• Facilitating sessions on budgeting for people at different stages of life.

The Training starts at 9:00 a.m. MDT. on day one and ends at 3:30 p.m. MDT. on day two.

Travel Reimbursements Available to AFI Grantees. For AFI grantees only, a $600 travel stipend reimbursement is available to help offset travel costs to the Financial Education Academy. Please indicate your interest in receiving information about this reimbursement when registering for the training.

Technical Assistance Clinics Available. Technical Assistance Clinics Available: The training will also offer a “Technical Assistance Clinic” during the late afternoon and early evening of the first day of the training. At this clinic, you will be able to meet in small group or one-on-one with a financial educator to discuss issues or concerns and to get assistance on those topics. View more information on the TA Clinics.

To Register. Visit the registration site to sign up for this event. Confirmation and additional information about the session will be emailed to you.

Prosperity Works Powering Social and Economic Opportunity Conference

Beginning the evening after the Financial Education Academy ends, Prosperity Works will host a conference in Sante Fe that will demonstrate the effectiveness of building local economies through asset formation opportunities and integration of asset strategies in public services and private employment. A series of communications workshops will be featured, providing educational information around the effective use of social media.

The conference will begin at 5:00 p.m. MDT. on Tuesday, April 24, and adjourn at 2:30 p.m. MDT. on Thursday, April 26. Prosperity Works encourages business leaders, ACF program state and federal employees, community based service organizations, law makers, and policy administrators to attend.

Early bird registration for the conference is $375 until March 30. After March 30, registration increases to $475. Registration is free to federal and state employees, who will be charged a $185 meal fee. For more information about the event, and to register, visit the Powering Social and Economic Opportunity event website.

There’s a new free, fun, and engaging financial program that you can use to help students of any age build a brighter financial future. The Hands on Banking online financial courses include free instructor guides with classroom lessons and activities that will help you guide students through real-life scenarios, group discussions, and other activities designed to teach valuable money management skills and help them take control of their finances.

For adults, courses include information on banking services, money management, credit, planning for the future, and buying a home. They also have separate online courses and accompanying instruction guides around entrepreneurship, including starting, managing, and growing a business. The Hands on Banking curriculum is designed for four age groups: Kids, Teens, Young Adults, and Adults. It is available in both English and Spanish, all without endorsements or commercials.