X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA — The IRS’ volunteer income tax assistance program has grown to include 535 credit unions, more than double the 250 figure for 2007.The VITA program offers free tax-return preparation help to low- to moderate-income people.In 2007, more than 250 credit unions were VITA partners. For the 2008 tax season, the number of participants jumped to 535, according to IRS. With more than 40,000 returns processed at credit unions this year through the VITA program, participation has more than doubled over 2007′s figure of 18,000.Through VITA, credit union-processed returns resulted in $42 million in refunds, the IRS said. Volunteers also helped individuals receive $16.2 million in earned income tax credits and $6.8 million in child tax credits.Debra Chandler, national credit union relationship manager and senior tax analyst with the agency, attributed several factors to the growth of CU VITA participation including marketing support from leagues, trade groups and the NCUA as well as the IRS’ Stakeholder, Partnership, Education and Communication offices nationwide.Credit unions were recently the recipients of more than $543,000 in grants to assist with VITA training and other related services.–msamaad@cutimes.com

MEMBERS Trust Taps Lee as VP

Peter Westerman

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.