Free tax prep program opens in Elgin Jan. 21
Families struggling just to make ends meet shouldn't have to pay to get their tax refund, and, in Illinois, they don't - thanks to a partnership with the Center for Economic Progress, United Way of Elgin, the Grand Victoria Foundation, and Gail Borden Public Library. This tax season, the center will again make filing taxes easier by bringing its free tax preparation service to the Elgin community.
Last year, free tax preparation services put $2.93 million back into the pockets of Elgin area residents. IRS-Certified tax preparation volunteers put in over 2,100 hours helping families by identifying valuable tax credits, like the Earned Income Tax Credit (EITC), that are often missed by the inexperienced.
The service also help keep families away from vendors who make Refund Anticipation Loans, which can end up costing families more than their refund is worth after fees and interest.
In addition to having their taxes prepared and filed, volunteers educate clients on healthy financial habits by providing access to safe financial products, like checking or savings accounts or prepaid debits cards, and encouraging direct deposit of refunds. Clients can even open their first checking or savings account on-site, allowing them to build their financial capacity responsibly.
Families who earned less than $50,000 and individuals who earned less than $25,000 in 2014 are eligible for CEP's services. Those interested in having their taxes prepared should bring the following items with them to the tax sites: all W-2 and 1099 forms; Social Security cards or Individual Taxpayer Identification Numbers (ITIN) for all family members; valid photo ID; copy of last year's tax return; copy of most recent property tax bill; bank account number and routing number for direct deposit of refund; and the amount spent on college expenses.
Tax sites will be open from Jan. 21 to April 15. The Elgin Tax Preparation Site will be at Gail Borden Public Library, 270 N. Grove Ave., from 5:30 to 8 p.m. Monday, Wednesday and Thursday, or when capacity is reached; and 10 a.m. to 1 p.m. Saturdays, or when capacity is reached.
For shorter wait times, visit in March.
For more information, call (312) 252-0280 (dial 711 for hearing-impaired), or visit www.economicprogress.org. Flyers detailing the Elgin site are available on United Way of Elgin's website: www.uwelgin.org. All tax sites are ADA accessible.