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Money Wi$e Durham Coalition offers free income tax assistance to working families

The Money Wi$e Durham Coalition, a partnership of pro-consumer groups, nonprofits, corporate and government organizations led by Mayor Bill Bell and Durham County Board of Commissioners Chairman Ellen Reckhow, has launched a community-wide effort to promote financial literacy, access to financial services and wealth building opportunities. Volunteer Income Tax Assistance (VITA) programs in Durham County will provide free tax preparation for low/moderate income persons and help working families claim the federal Earned Income Tax Credit (EITC) during the upcoming tax season. EITC is a refundable tax credit for certain workers that provides cash refunds of up to $4,000&more than 17,000 Durham individuals and families claimed the EITC in 2002. The EITC claimed in Durham totaled more than $31 Million, directly benefiting local families and indirectly helping the local economy. Experts estimate that between 15 and 25 percent of eligible taxpayers do not claim the EITC.

Tax Preparation
Free income tax assistance is available for retirees and low/moderate income taxpayers. Trained volunteers will assist with 1040EZ, 1040, 1040A and NC tax forms. Electronic filing is available at some sites. Sites will be open from January 31, 2004 to April 15, 2004.

Mondays
R.S.V.P. @ Northern Durham Branch Library
6pm-8pm

Riverview Shopping Center
5100 N. Roxboro Road 27704

Tuesdays
R.S.V.P. @ Lyon Park Community and Family Life Center
1313 Halley Street Durham, NC 27707
1pm-3pm

Holy Cross Catholic Church
1400 S. Alston Avenue Durham, NC 27707
5:30pm-7:30pm 5:30pm-7:30pm

Self-Help "Do-it-Yourself" Site @ W.D. Hill Recreation Center
1801 Fayetteville Street Durham NC 27707
6:30pm-8pm
Facilitators in the computer lab will help taxpayers learn to file their taxes electronically. Customers should be eligible for the Earned Income Tax Credit and comfortable with computers.

Wednesdays
R.S.V.P. @ W.D. Hill Recreation Center
1801 Fayetteville Street Durham NC 27707
1pm-3pm

R.S.V.P. @ Main Library
300 N. Roxboro Street Durham NC 27701
5:30pm-8pm

Thursdays
Holy Cross Catholic Church
1400 S. Alston Avenue Durham, NC 27707
5:30pm-7:30pm

(February 12, 26, March 11, 25, April 8)
Duke Law @ Durham Community Land Trustees, Inc.
1208 W. Chapel Hill Street Durham, NC
3pm-5pm

Fridays
R.S.V.P. @ Main Library
300 N. Roxboro St. Durham, NC 27701
10am-1pm

(February 6, 20, April 2)
Duke Law @ Duke Federal Credit Union
1400 Morreene Road Durham, NC 27705
8am-10am, 3pm-5pm

Saturdays
(February 7, 21, March 6, 20 and April 3)
R.S.V.P. @ Main Library
300 N. Roxboro St. Durham, NC 27701
10am-1pm

(February 7, March 6, and April 3)
Duke Law @ Durham Community Land Trustees, Inc.
1208 W. Chapel Hill Street Durham, NC
10am-2pm

(Every Saturday)
El Centro (operated by Notre Dame Alumni Club; e-filing not available)
201 W. Main Street Durham NC 27701
10am-2pm

NCCU Law @ NC Mutual Life Insurance, 8th Floor
411 W Chapel Hill St. Durham, NC 27701
10am-2pm

Taxpayers should bring W-2 forms, tax forms received in the mail, last years return if available, relevant ID and receipts, bank account numbers, and information on any child tax credit refund received during the year. Questions? Contact the IRS at 1-800-829-1040 or Money Wi$e Durham at 682-5778 (9am-1pm).

Earned Income Tax Credit The Earned Income Tax Credit (EITC), sometimes called the Earned Income Credit (EIC), is a refundable Federal income tax credit for low-income working individuals and families. The credit reduces the amount of Federal tax owed and can result in a refund check. When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.

• Families with one child who earn less than $29,666 in 2003 (or less than $30,666 for married workers) are eligible for a credit of up to $2,547.
• Families with two or more children who earn less than $33,692 in 2003 (or less than $34,692 for married workers) are eligible for a credit of up to $4,204.
• Workers without a qualifying child who earn less than $11,230 in 2003 (or less than $12,230 for married workers) are eligible for a credit of up to $382.
• Investment Income Limit = $2,600.
• Child Tax Credit = up to $1,000 per child Workers must earn over $10,500 in 2003 to qualify for refund.

Some employees with at least one child living with them may be eligible to receive advance EITC payments in their paychecks. The employee must file Form W-5, EIC Advance Payment Certificate, with an employer to receive the advance payments. The employer then pays part of the credit to the employee in advance throughout the year. The taxpayer claims the rest when filing the 2003 Federal tax return.

Money Wi$e Coalition Partners:

• Durham County Department of Social Services
• City of Durham
• Consumer Credit Counseling Service
• M&F Bank
• Central Carolina Bank
• Greater Durham Chamber of Commerce
• Durham Technical Community College
• CFED
• Self Help Credit Union
• Good Work, Inc.
• VITA Centers
• Retired & Senior Volunteer Program (RSVP)
• Durham County Cooperative Extension Service
• Generations Community Credit Union
• Duke University
• Internal Revenue Service
• Excellence by Choice, Inc.
• FDIC
• NC Banking Commission