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A new national survey finds 72 percent of working Americans making that amount or less are unaware they qualify for free tax filing and counseling. The survey, conducted for United Way Worldwide, finds that most respondents are unfamiliar with MyFreeTaxes, a mobile-optimized software program allowing free federal and state tax preparation and filing in all 50 states and Washington, D.C.
On average, filers can save $200 in tax preparation fees by using the free platform.
“We recognize that affordable tax preparation services are out of reach for many in our community,” said Kim Morgan, CEO of United Way of Western Connecticut. “In addition to the savings derived from using this service, taxpayers can reduce the amount of income tax they pay by claiming valuable credits. We know that tax refunds help many in our community achieve greater financial stability, and we want to help them keep more of what they earn.”
Many of the 1,000 adults surveyed were unaware that they were eligible for tax credits. Just four in 10 adults reported awareness of the child tax credit, while fewer than 60 percent said they are familiar with the earned income tax credit. Almost 20 percent were not aware of any tax credits they could access.
Tax refunds help working Americans put money in their pockets for everyday items and save for the future. About 23 percent of those asked say they spend their refunds for food, while 22 percent spend the money on housing costs; 31 percent use their refunds for utilities. A quarter of those who receive refunds put the money into savings or invest the funds for the future.
The service also includes a helpline, 1-855-MY-TX-HELP, which operates through April 18 from 10 a.m. until 10 p.m. Monday through Friday, and noon to 9 p.m.on Saturday.
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