Tax Time 2010

At the beginning of the 2010 Tax Season, the Asset Building Program partnered with the Congressional Savings and Ownership Caucus to put on this event which was geared toward helping Congressional Staff educate their constituents about new features on the tax form—including the ability to buy U. S. Savings Bonds directly on the tax form—that can assist low- and moderate-income taxpayers in easing the tax-filing process and building economic security at tax time.

Presentations were made by David Marzahl, Executive Director of the Center for Economic Progress. Mr. Marzahl discussed the important role played by Volunteer Income Tax Assistance (VITA) sites and the critical role those locations and volunteers have played in not just assisting low-income taxpayers, but also in piloting the development of services like the Savings Bond purchase option on the tax form. Mr. Marzahl encouraged the audience to look at tax time as an opportunity for taxpayers to be educated about their finances and their options for building economic security through the tax season and the tax form directly.

David Williams, the Director of Electronic Tax Administration and Refundable Credits in the Department of the Treasury. Mr. Williams’ presentation focused on National EITC Awareness Day and the IRS’ efforts to reach out to taxpayers and educate them about the new tools that are available to them at this time. Mr. Williams emphasized that electronic tax filing is fast, simpler than filing by paper, and in many cases can be free. In addition, the development of tools such as direct deposit, split refunds and the new option to purchase savings bonds on the tax form is transforming the Internal Revenue Service into a more service-based organization with an eye on helping taxpayers get the most out of the tax code, including the full benefits of the Earned Income Tax Credit. Mr. Williams also encouraged Congressional staff to find ways for their offices to partner with the IRS to promote full use of the tax code and form for the benefit of their constituents.

Tim Flacke is the Executive Director of Doorways to Dreams (D2D) Fund, which spearheaded the pilot project that lead to the institution of the Savings Bond purchase option on the tax form. Mr. Flacke provided his expertise to the audience and encouraged Congressional offices to take part in educating the public about the Savings Bond purchase option and split refunds.

Tracy Fischman, Executive Director AccountAbility Minnesota (AAM) provided an overview of the work performed by her organization in promoting economic security among residents of the Twin Cities area. Ms. Fischman also discussed innovative work performed by AAM in providing alternatives to Refund Anticipation Loans and training other organizations to provide volunteer tax preparation services.

To see the outreach tools recommended by the National Community Tax Coalition, please click here.

To see the outreach steps recommended by D2D Fund, please click here.

To see the Fact Sheet on Savings Bonds prepared by D2D Fund, please click here.

Participants

Featured Speakers
David Williams
Director, Electronic Tax Administration and Refundable Credits
Internal Revenue Service

Tracy Fischman
Executive Director
AccountAbility Minnesota–NCTC Affiliate

Tim Flacke
Executive Director
D2D Fund

David Marzahl
Executive Director
Center for Economic Progress

Moderator
Justin King
Federal Policy Liaison, Asset Building Program
New America Foundation