Citi Community Development Launches National Awareness Campaign for EITC Filing and Free VITA Tax Prep Sites in 26 U.S. Markets

Published on Thursday, 02 February 2012 13:05 Written by TradersHuddle Staff

NEW YORK-( Business Wire )-

Citi Community Development (CCD) announced today that it has produced unique, market-specific publications appearing in newspapers in 26 metropolitan areas across the United States in order to encourage underserved, working taxpayers to take advantage of refunds available through the federal Earned Income Tax Credit (EITC). The Money Matters publication also highlights the availability of free tax preparation services through the Volunteer Income Tax Assistance (VITA) program of the Internal Revenue Service (IRS).

“Citi and our community partners across the country were able to educate and assist many of the Americans who received $59 billion in Earned Income Tax Credit refunds last year,” said Citi CEO Vikram Pandit. “Yet there are 20 percent of eligible taxpayers who are still not claiming the EITC, leaving billions of dollars on the table that could be used to increase family savings, invest in small businesses, or prepare for college expenses. We remain committed to ensuring that all eligible families have the information and tools they need to reclaim money that can improve their lives and stimulate their local economies.”

The EITC enables working people who earn approximately $50,000 or less per year to keep more of their earnings through a tax refund. The IRS estimates that four out of five eligible people claim and receive the EITC. However, many people, including millions of eligible workers who qualified for the EITC for the first time in 2011, don’t know about the EITC or that they must file an income tax return in order to claim the benefit.

CCD’s Money Matters was developed to help connect eligible taxpayers with local community organizations that provide or promote free tax assistance. Money Matters includes essential information about the VITA program and the EITC; wise ways to save money; tips for stress-free tax filing; and the benefits of having a bank account.

The publications were produced in both English and Spanish and were inserted into the full runs of local newspapers serving mainly ethnic and minority populations. The complete collection of publications is available at www.citicommunitydevelopment.com.

Public officials in several markets served by this campaign reinforced the importance of Citi’s EITC awareness efforts:

Delaware Governor Jack Markell: “Citi is not only an important employer in our state. They’re making a commitment across the country to help put money back in the pockets of people who work hard and qualify for the EITC.”

Philadelphia Mayor Michael A. Nutter: “We are living in tough economic times. People need to keep every hard-earned dollar that they can, and the Earned Income Tax Credit helps people do just that. Citi’s targeted national campaign will encourage people from metropolitan areas across the country, especially Philadelphians, to take advantage of both the EITC and the VITA program.”

Dallas Mayor Mike Rawlings: “The Earned Income Tax Credit is a financial boost for working people in a recovering economy. Increasing access to free tax preparation services has the potential to benefit families to the tune of hundreds or thousands of dollars each, and can mean millions of extra dollars circulating in our city’s economy.”

Jonathan Mintz, Commissioner, New York City Department of Consumer Affairs: “Hundreds of thousands of New Yorkers qualify for the EITC and thanks to our Citywide EITC Coalition, eligible New Yorkers have collected nearly $20 billion in tax credit refunds since 2002. These dollars not only benefit New York families, but also our local economy. I encourage New Yorkers to go get every dollar of their refund by filing for free online, at one of the City’s 69 different free tax sites across the five boroughs, or with the City’s coupon at H&R Block locations for only $29 throughout the entire tax season; and I also encourage New Yorkers to save some of their refund to qualify for a 50% match through the SaveUSA program. Contact 311 or visit www.nyc.gov/taxprep.”

José Cisneros, Treasurer, the City and County of San Francisco: “Financial inclusion requires that we provide not only the tools for financial stability — like the EITC — but access as well. Citi has been a constant and energetic partner in providing and expanding access to economic empowerment tools. Once again, they have set themselves apart with this nationwide initiative on behalf of families who qualify for the Earned Income Tax Credit.”

Stephanie Neely, Chicago City Treasurer: “The VITA program ensures that hardworking families get all the tax refunds they’ve earned. Dollars in hand, whether saved or spent, are like a mini local stimulus package for those who need help the most.”

The markets where Money Matters is appearing include:

• Arizona (Tucson)
• California
  • Fresno
  • Los Angeles
  • Orange County
  • Sacramento / Stockton
  • San Diego
  • San Francisco Bay Area
  • San Jose / Santa Clara
• Connecticut (Fairfield County)
• Delaware (Statewide)
• Florida (Miami-Dade, Broward and Palm Beach Counties)
• Illinois (Chicago)
• Massachusetts (Boston)
• Missouri (St. Louis)
• New Jersey (Newark)
• New Mexico (Albuquerque)
• New York
  • New York City
  • Long Island
• Pennsylvania (Philadelphia)
• South Dakota (Sioux Falls)
• Texas
  • Bryan/College Station
  • Dallas
  • Houston
  • San Antonio
  • Wichita Falls
• Washington, DC

About Citi Community Development

Citi Community Development (CCD) is leading Citi’s commitment to achieve economic empowerment and growth for underserved individuals, families and communities by expanding access to financial products and services, and building sustainable business solutions and innovative partnerships. Our focus areas include: commercial and philanthropic funding; innovative financial products and services; and collaborations with institutions that expand access to financial products and services for low-income and underserved communities. For more information, please visit www.citicommunitydevelopment.com.

CitiDavid Roskin, This e-mail address is being protected from spambots. You need JavaScript enabled to view it.