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KeyBank to work with local agencies to help eligible families & individuals file for Earned Income Tax Credit
KeyBank Press Release
On Saturday, Feb. 1, KeyBank will partner with the Buffalo Federation of Neighborhood Centers (BFNC) to host a free tax preparation event. KeyBank employees will work alongside volunteers from various organizations to provide free tax preparation services to those who need it most, helping low- to moderate-income individuals and families determine their eligibility for the Earned Income Tax Credit (EITC).
This Earned Income Tax Awareness Day event will be held from 9 a.m. until 2 p.m. at the BFNC Westminster Community House, located at 419 Monroe St., Buffalo. Individuals do not have to be a KeyBank customer to participate, but anyone wishing to attend this Saturday’s event must schedule an appointment in advance by calling 2-1-1 or visiting www.211wny.org.
“The Buffalo Federation of Neighborhood Centers (BFNC) looks forward to hosting the free VITA tax services for our community each year. We proudly host the tax services launch at the historic Westminster Community House. In the settlement house tradition, we work to help community members overcome life obstacles, and values community collaborations that make an impact,” stated Chandra Redfern, BFNC CEO.
“We are excited to work with the Buffalo Federation of Neighborhood Centers (BFNC) to support our neighbors in Western New York with free tax preparation services,” said Chiwuike “Chi-Chi” Owunwanne, corporate responsibility officer for KeyBank in Buffalo. ”This is an event that is central to KeyBank’s purpose of helping the communities we serve thrive.”
The EITC is a benefit for working people with low to moderate income. To qualify, workers and families must meet certain requirements and file a tax return, even if they do not owe any tax or are not required to file. EITC reduces the amount of tax owed and may provide a refund. (Source: IRS)
Each year, thousands of qualifying Americans do not claim the EITC on their federal income tax returns, meaning billions of dollars in much-needed refunds goes unclaimed. “Super Refund Saturday” is a cost-effective way for tax filers to navigate the potentially confusing tax preparation process and ensure they are getting their full return.
According to the IRS, to qualify for the EITC, earned income must be less than:
√ $59,899 ($66,819 if married and filing jointly), if you have three or more children
√ $55,768 ($62,688 if married and filing jointly), if you have two children
√ $49,084 ($56,004 if married and filing jointly), if you have one child
√ $18,591 ($25,511 if married and filing jointly), if you have no children
Children must meet certain relationship, age, and residency requirements to qualify.
If participating in “Super Refund Saturday,” income tax return filers should bring these documents:
√ State-issued photo ID
√ Social Security card (for you, your spouse, and each child and/or dependent)
√ W-2 forms
√ 1099 forms (interest, earnings as an independent contractor)
√ Unemployment forms (if applicable)
√ Proof of child care payments
√ Other IRS forms, as appropriate
√ Last year’s tax return (if available)
√ Bank account and routing number for direct deposit (if applicable)
If filing jointly, please bring all applicable documents for you and your spouse.
The Buffalo Federation of Neighborhood Centers (BFNC), a community-based agency, has a collaborative history of over 130 years serving the Buffalo community. It provides a safety net of human services to assist residents in both Erie and Niagara counties on their path to success. Learn more at www.bfnc.org.