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Tax season can be a stressful time for many families, especially for low-to-moderate-income households that may struggle with the complexities of filing their taxes. By offering free tax preparation services to residents, we—as a community—can alleviate some of this burden and unlock significant financial benefits not just for individuals, but for the entire surrounding area. Here’s an example of how providing such a service can create a ripple effect of positive economic outcomes.

A Real-Life Example: Boosting Household Budgets

Imagine a community where many residents are unaware of the tax credits and deductions available to them. A single parent working two jobs may not realize they qualify for the Earned Income Tax Credit (EITC), which could return thousands of dollars to their household. Without assistance, these vital funds might go unclaimed. Free tax preparation services bridge this gap by ensuring residents file accurate returns and claim all the benefits they’re entitled to.

In one program similar to ours, trained volunteers helped 1,000 families claim over $1.5 million in refunds in just one tax season. This infusion of funds immediately impacted household budgets, enabling families to pay down debts, save for emergencies, and spend on local goods and services.

Stimulating Local Economies

When residents receive their tax refunds, the effects often extend beyond individual households. Families use these funds for necessities like groceries, school supplies, and home repairs. Others may use their refunds to invest in higher education or transportation, creating long-term opportunities.

Local businesses also benefit. Increased spending boosts revenues for small stores, restaurants, and service providers, creating a stronger economic ecosystem. Studies have shown that every dollar received through programs like the EITC generates $1.50 to $2.00 in local economic activity. This multiplier effect underscores the broader importance of ensuring residents claim every penny they’re eligible for.

Reducing Financial Stress and Strengthening Communities

Financial stress is a significant barrier to productivity and well-being. By reducing this stress through free tax preparation services, families can focus on other aspects of their lives, such as pursuing educational goals, seeking better employment, or becoming more involved in community activities. Over time, these individual gains translate into a more engaged and stable community.

Moreover, free tax preparation services can connect families to additional resources. For instance, during the tax preparation process, residents may learn about financial literacy programs, housing assistance, or child care support. These resources further empower families and contribute to long-term community growth.

Join Us in Making a Difference

By teaming up with the Jurupa Valley Coalition, we’re proud to offer free tax preparation services to residents of Jurupa Valley. This initiative not only helps families navigate the complexities of tax season but also strengthens the financial well-being of our entire community.

If you’re interested in volunteering, donating, or learning more about how you can support this program, please contact us today. Together, we can ensure that everyone in our community has access to the financial resources they need to thrive.

 

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