The VITA program (Volunteer Income Tax Assistance) provides low to moderate income families with assistance in filing for Earned Income Tax Credits. The earned income tax credit (ETIC) is a federal refundable tax credit. Certain people are eligible if they have worked and have earned income under $37,263 for 2005.
The purpose of the VITA program is to encourage families, who qualify for earned income tax credits, to file for their returns and then enroll in a matched savings program. The goal is to educate individuals and families on how to create wealth through building assets. Over the past three years, nearly 200 Freeman students have assisted the VITA program return $3,000,000 to the local community by preparing tax returns for over 2,000 local working families free of charge.
The Individual Development Account Collaborative of Louisiana, IDACL, then teaches these families how to build assets through a matched savings program. Participants are required to select one of three asset building goals: homeownership, business ownership or education.
For more information about the IDACL visit: http://idacola.tulane.edu
The dates for filing returns are January - April 15. Please call 504.865.5455 to get a list of VITA sites in your area. If you would like more information on VITA , please contact:
Lina Alfieri-Stern Associate Director, Levy-Rosenblum Institute for Entrepreneurship A.B. Freeman School of Business Tulane University New Orleans, LA 70118-5699 Phone: (504) 865-5455 Fax: (504) 862-8902 Email:linaa@tulane.edu
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