Member Updates
Advocating for Regulatory Reform
The House is currently debating the Wall Street Reform and Consumer Protection Act of 2009 (H.R. 4173) – which includes the establishment of a Consumer Financial Protection Agency (CFPA). The CFPA is intended to protect consumers by regulating financial products and abusive lending practices. Given that we are living through the worst economic crisis since 1929, it’s no surprise that the public is crying out for this kind of banking reform.
Obama’s Labor Day Address on Retirement Savings
If you spent the holiday weekend like I did, relaxing and enjoying the last few days of summer, you may have missed President Obama’s weekly address to the nation on retirement security. Based on the amount of media coverage the address received, it seems like the press may have missed the address as well. Obama’s retirement security speech may have been overshadowed by his back-to-school message and his upcoming address to Congress on health care, but the plan he outlined could have a near-immediate impact on American workers.
April State Policy Victories
Over the past month, advocates were hard at work in Maryland and Michigan passing legislation to protect consumers and increase access to the EITC. Here's a look at some recent victories.
Financial Literacy and Education Commission Launches New "My Money" Web Site
Enhanced features include new calculators, checklists to help families with savings, preparation for college, numerous other life events with financial implications.
Senate Passes Financial Reform
After lengthy debate in the Senate, financial reform passes with a 59-39 vote. Congressional leaders must now reconcile it with the House bill that was passed in December.
Building Healthy Communities Grant Program
Grants, up to $2,500, are now available to registered 501(c)(3) nonprofit organizations, public schools or tax-exempt public service agencies in the U.S. who are using the power of volunteers to improve the physical health of their community. Grants are made in the form of The Home Depot gift cards for the purchase or tools or materials.
The Child Tax Credit after ARRA: How Would Expiration Affect Metropolitan Families?
The Child Tax Credit’s $3,000 earnings threshold put into place by the American Recovery and Reinvestment Act (ARRA) is set to expire after tax year 2010. This factsheet uses our MetroTax model to estimate the number of working families that would see their Child Tax Credit (CTC) reduced or eliminated if policymakers allow the Child Tax Credit’s earnings threshold to revert to pre-ARRA levels.
2011 Call for Best Asset Building Products or Practices
Do you have an asset building product or practice that has been successful and can be replicable at other tax sites? Help other programs grow and provide a more comprehensive set of financial services at their sites. Consider sharing your information with the field by submitting your product or practice.
Sweeping Financial Reform Signed into Law
In response to the financial industry meltdown of 2008, yesterday President Obama signed into law what he described as "the strongest consumer financial protections in history."
The IRS Moves to Decrease the Use of RALS
The Internal Revenue Service announced that starting with the 2011 tax filing season it will no longer provide tax preparers and financial institutions with the debt indicator, which is used to facilitate Refund Anticipation Loans (RALs).
Eliminating Access to the Debt Indicator
IRS recently announced they will eliminate the debt indicator for filing season 2011. How will this impact the prevalence of Refund Anticipation Loans (RALs)?
Local Policy to Preserve and Promote Manufactured Housing
Please join CFED for a web seminar on using local policy to preserve and promote manufactured housing as an affordable housing option in your community.
From the VITA Field to Capitol Hill, Let's Extend Tax Benefits for Working Families
With so much hanging in the balance, the VITA field must continue to advocate for the expanding the EITC, CTC, and American Opportunity Credit. These are tax benefits that working families simply cannot afford to lose.
VITA Grantees - Lets Celebrate
The IRS recently announced the 2011 VITA Grant Recipients. Congratulations to all those that received grants this year! Under the VITA Grant Program, the IRS awarded over $11 million in matching grants to 177 organizations. Now it's time to to celebrate with a picture contest!
I-CAN! E-File Expands to VITA Sites
IRS enables tax returns prepared through I-CAN! E-File at VITA sites to count toward VITA results for the 2010 tax year.
IRS Releases Latest Data on e-Filing and Direct Deposit
Updates for November 2010 reveal an 8 percent increase in e-filing over 2009 for both overall individual returns filed as well as home computer e-filing. As the IRS’ release states, "IRS e-file is no longer the exception; now it is the norm."
Midterm Election Recap
The 2010 November elections have come and gone. Who won? Who Lost? And what does it mean for NCTC's Federal Policy Agenda?
Your Voice in the Tax Cut Debate
Congress, in its final session of 2010, has several key votes to make on behalf of working families - including extending expiring refundable tax credits. Without Congressional action, the Recovery Act tax credit expansions expire at the end of the year.
Cuts, Credits, & Compromises
Earlier this week, President Obama negotiated with the Republican Senate leadership on a tax cut package to be voted on in the coming days. As with any compromise, there are pieces that we love and those aspects that we could do without.
BONDS MAKE IT EASY CAMPAIGN LAUNCHES!
Visit the newly launched website www.bondsmakeiteasy.org for the following FREE and HIGH QUALITY resources.
The New Realities of the RAL
Instant money. Money now loans. Quick refunds. Tax refund anticipation loans have dozens of names but this year, they may be anything but instant, quick, or…available. Guest Bloggers David Rothstein and David Marzahl take a look at the new realities of the RAL.
National EITC Awareness Day
While hundreds of VITA programs celebrated National EITC Awareness Day in their local communities, NCTC celebrated with a policy briefing on Capitol Hill.
Happy Financial Aid Awareness Week!
Cities across the country have declared February 6-12, 2011 "Financial Aid Awareness Week."
CEP President David Marzahl Discusses Financial Aid Awareness Week on WGN TV
David Marzahl discusses what Financial Aid Awareness Week means, and what the Center for Economic Progress is doing to promote awareness in the Chicago area.
MEDA Director Discusses Financial Aid Awareness Week on Univision
Dairo Romero, Director of Programs at the Mission Economic Development Agency (MEDA) in San Francisco was recently interviewed by Univsion 14 about MEDA's involement in Financial Aid U and Financial Aid Awareness Week.
Guest Blog: Revealing the People Behind Tax Credits
Guest blogger Steve Holt of Holt Solutions highlights key demographic findings about VITA clients' use of select tax credits in data pulled from sites participating in the Anne E. Casey Foundation's National Tax Assistance for Working Families Campaign (NTA).
A Targeted, Consolidated Education Tax Credit Would Increase College Enrollment Among Low-Income Families
National Community Tax Coalition Calls for Revamped Tax Code
Treasury Dept. Announces Elimination of Paper Bonds - Action Needed!
While the tax time savings bond program is safe, your help is needed to ensure our clients are being served!
Obama Nominates Consumer Financial Protection Bureau Director, Richard Cordray
Today, President Obama formally announced his nomination of Richard Cordray as the first Director of the Consumer Financial Protection Bureau (CFPB).
Treasury Dept. Announces Pilot Program on EITC Eligibility
Program will seek to identify ineligible EITC claimants and eligible individuals who do not claim the EITC through state data.
Looking Back at NCTC's Thought Leader Circle II
The second of three Thought Leader Circles was held on July 28th in New York City. A component of the Sustainable Models research project, funded by the Ford Foundation, the circles bring together leaders in the tax preparation field to participate in a robust research initiative exploring sustainability issues. These learnings will help inform the future direction of the community tax preparation field in service delivery, revenue generation, and policy.
Ensuring High-Quality, Affordable Assistance for America’s Taxpayers: Highlights of the Volunteer Income Tax Assistance Program’s 2011 Efforts
The National Community Tax Coalition (NCTC) is the nation’s leading coalition of non-profit, voluntary entities providing free tax preparation assistance and financial services to low-income individuals and families.
PaperlessPLUS Premier Pilot - - Tax Campaigns/Organizations Wanted
The National Community Tax Coalition, in partnership with CCH, Small Firm Services (TaxWise) is seeking approximately 10 community tax preparation programs to pilot the PaperlessPLUS Premier Initiative during the upcoming tax season. The main goal is to increase accuracy of the tax preparation using auto fill capabilities by scanning income documents.
TIGTA Report on VITA and Other Volunteer Tax Programs
As you may have heard, the Treasury Inspector General for Tax Administration (TIGTA) released their annual audit of the VITA program today. There is the potential for negative publicity due to the report’s criticisms and we want you to be prepared.
Memo from DC: More clarity, please
After a week spent solidifying support for the VITA Act of 2011 and protection of tax credits for working families, NCTC’s policy-and-advocacy team has returned from Washington, DC ready to tighten up the communications strategies supporting those priorities.
National Program Survey Results Released
How does your free tax preparation program compare to others in its field? How do other programs train their volunteers and ensure quality returns? NCTC’s 2011 National Program Survey throws light on these questions.
Free, Assisted Online Tax Preparation with the Beehive and MyFreeTaxes.com
One Economy Corporation is a global nonprofit organization, founded in 2000, with a mission to help low-income people maximize the power and potential of technology to improve their lives and join the economic mainstream. At One Economy, we use technology to augment and enhance existing systems and community development activities to better support the needs and potential of low-income people. We believe that by using the Internet innovatively, we can break through the barriers caused by the social and economic isolation of poverty.
2011 Day of Action: A Success!
NCTC members had a record-breaking day of action in Washington, DC on October 13, 2011. Organizations from 18 states had meetings with over 60 congressional offices to ask support for the VITA Act of 2011 and to preserve refundable tax credits. We also hosted a congressional briefing with the Congressman Mike Honda, the lead sponsor of H.R. 2151, the VITA Act of 2011. We hope to grow our days of action to become bigger and better every year!
2011 Day of Action: A Success!
NCTC members had a record-breaking day of action in Washington, DC on October 13, 2011. Organizations from 18 states had meetings with over 60 congressional offices to ask support for the VITA Act of 2011 and to preserve refundable tax credits. We also hosted a congressional briefing with the Congressman Mike Honda, the lead sponsor of H.R. 2151, the VITA Act of 2011. We hope to grow our days of action to become bigger and better every year!
The long & short of EITC’s value to families
The majority of households claiming the Earned Income Tax Credit do so only for brief stretches of time, according to new research that indicates the credit’s value as a short-term aid to many families in temporary need of help.
Federal Benefit Payments Are Going All-Electronic
Source: U.S. Department of the Treasury, Financial Management Service
State stories: Strengthen the EITC, strengthen local economies
This week, NCTC was able to help our Illinois affiliate – the Center for Economic Progress – make an important plug for increasing that state’s Earned Income Tax Credit.
NCTC Announces Free Use of NCTC Online University
The National Community Tax Coalition (NCTC) is proud to announce that its NCTC Online University has added additional courses and will be available for FREE this tax season - starting right now!
