Many people view tax refunds as unplanned bonuses. For some American households, a tax refund is the largest infusion of funds they will receive all year. They see the money as a gift from the government, to use for splurges or treats. Most importantly, a tax refund provides an opportunity for many to improve their financial situation.
During America Saves Week, you can encourage people to make saving automatic and use their refund to help accomplish their financial goals. Tell taxpayers they can save on tax preparation fees and get their taxes filed for free at a Volunteer Income Tax Assistance (VITA) site if their total annual household income doesn’t exceed $54,000.
Taxpayers across America once again will have a chance to win cash prizes just by saving a portion of their tax refund through the SaveYourRefund campaign, thanks to a partnership between Commonwealth and America Saves.
- Eligible entries are entered into drawings for one of the 100 prizes of $100 or a chance to win one of two $10,000 grand prizes.
- Some 12,000 people have saved more than $10 million through SaveYourRefund since 2013, and it is through this partnership and with your help that we hope to see that number rise exponentially.
- Learn more and sign up to participate at www.SaveYourRefund.com.
More ways your organization can support tax-time saving during America Saves Week:
- Promote automatic saving at Volunteer Income Tax Assistance (VITA) sites in your area by reminding taxpayers to split their refund using IRS Form 8888.
- Encourage taxpayers to take the America Saves Pledge and support their goal by saving a portion of their refund through IRS Form 8888.
- Use and distribute America Saves Week marketing materials:
Don’t let one of the best times of the year to talk about saving pass by without encouraging others to save automatically!