Working Americans making $62,000 or less are leaving money on the table during tax season, and don’t have to.
- Nearly three quarters of Americans surveyed (72 percent) are unaware that they qualify for free tax preparation services through MyFreeTaxes. About half of those surveyed do their taxes themselves, while nearly one third (29 percent) pay someone else to complete their returns for them.
- Many are unaware of tax credits they have earned. Only four in ten surveyed were aware of the Child Tax Credit (CTC), while fewer than six in ten knew about the Earned Income Tax Credit (EITC). Almost twenty percent were not aware of any tax credits they could access.
Tax refunds help working Americans pay for everyday needs and save for the future.
- About 23 percent of those surveyed say they spend their refunds for food while 22 percent spend the money on housing costs; 31 percent use their refunds for utilities.
- A quarter of those who receive refunds put them into savings or invest the funds for the future.
MyFreeTaxes is a free, safe and easy way for anyone earning $62,000 or less to file state and federal taxes.
- It is the first free online tax preparation and filing product available in all 50 states and Washington, D.C. It is sponsored by United Way, with a grant from the Walmart Foundation.
- MyFreeTaxes tax filing software is provided by H&R Block® which uses the highest industry standards to safeguard taxpayer information.
- With free English and Spanish tax support, MyFreeTaxes offers a simple process that includes free telephone, email and online chat support from IRS-certified specialists.
- In 2015, 70% of filers completed their taxes in under 1 hour using MyFreeTaxes.
Don’t leave money on the table. Millions of individuals and families are eligible for billions of dollars in tax credits, which reduces the amount of income tax you have to pay.