Lower income families in Butler County will be receiving some money in their pockets this year with the help of Miami University students and a local tax credit initiative called "It's Money in Your Pocket."
The program, which is an Earned Income Tax Credit initiative (EITC), is part of the federal government's largest anti-poverty program. Locally, the Butler County Legal Aid Society oversees the program.
For their part, students work as tax preparers to help Oxford residents receive tax credits. As tax preparers, they analyze a person's tax return to see how much earned income tax credit they can get back. Students mainly assist at Oxford's Family Resource Center and from the Lane Public Library. This year they will also be working at the Booker T. Washington Center in Hamilton.
The coordinator of the student volunteering is Debra Stanley, assistant director for experiential learning and community relations at Miami.
The EITC process is offered to any resident with earned income during the year. However, the taxpayer must meet certain eligibility rules - such as total income, size of family and age - and file a tax return. Singles with no children must be at least 25 years old to be eligible for tax credit.
"Many people don't file (a tax return) if they aren't required to," Stanley said. "We encourage people to file anyways, and chances are if they're low income they will get a credit. One can get up to $4,000 back if they are single and have a child."
Those who benefit the most from this program are single parents and married couples with kids, Stanley said. Last year volunteers helped residents file more than 60 returns at the Oxford site.
The earned income credit is just one of a number of credits that are available; combined with all of the credits they are eligible for, some families could receive a couple thousands of dollars, according to student coordinator of the program and Miami senior Sara Eagin.
"Many people in the area don't realize that this program exists," Eagin said. "We try to get more people aware of it every year because it is a free process."
Trained students meet with individuals Wednesday evenings and Saturday mornings to analyze their tax return and determine how much credit an applicant will receive. Pairs of students work with each individual so that one can work with the tax software and the other can answer questions for the taxpayer.
Students must complete an eight-hour IRS training course on how to use the tax preparation software called TaxWise. Students also meet with an IRS agent for training sessions. After completion of an online IRS test, students are ready to assist.
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This year, students may be sent to other sites in the county depending on the need for volunteers. There are more than six tax filing sites in Butler County.
"I like the program because it offers a real service to people in our community," Stanley said. "Students meet residents that they normally wouldn't, and helping them gives students a real sense of satisfaction."
Eagin agreed.
"My favorite part is when I finish the process and I am able to tell someone that they will be getting some money back," she said. "It is absolutely rewarding."
Another student volunteer, Whittney Barth, a junior at Miami, said that she loves working with people she meets.
"Just seeing the look on people's faces when they find out they are getting some money back that they can really use is the best part," Barth said.
The volunteer program is open to any student. Although the program targets students from business majors, students from all majors are welcome. There are currently 40 volunteers, Stanley said.
This local initiative is sponsored by the IRS; the United Way organizations of Oxford, Butler County and Greater Cincinnati; Butler County Workplace; Oxford's Community Counseling and Crisis Center; and the Family Resource Center. The program began in Butler County in 2005.
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