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AccountAbility MN
2300 Myrtle Avenue #180
St. Paul,
MN
55114
ph: (651) 287-0187
Size: 11-19
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AccountAbility Minnesota, a community-based nonprofit organization, is celebrating its 36th year of providing free tax and accounting assistance to low and moderate-income taxpayers in the Twin Cities’ area and across Greater Minnesota. In 1971, AccountAbility Minnesota's Taxpayer Services programs were established with the belief that an individual’s access to tax assistance and, by extension, important financial supports applied for through a tax return, should not depend solely on his or her ability to pay for such services.
AccountAbility Minnesota’s mission is to provide tax preparation and accounting services to individuals and small business owners with limited means by leveraging volunteer resources.
Across the nation, public policy experts, lawmakers, and social service providers have seen that family-related tax credits offer essential financial assistance to millions of this country’s working poor. According to the Brookings Institution, the Earned Income Tax Credit (EITC) is by far the nation’s largest and most effective anti-poverty program lifting an average of five million Americans above the poverty line each year. In Minnesota, combined federal and state refunds can add up to almost half of an individual’s total annual income. For this reason, the value and importance of AccountAbility Minnesota’s Taxpayer Services have soared over the years.
Highlights of 2007 accomplishments to date:
- 14,000 low-income taxpayers received free tax assistance
- 6,600 children benefited from the tax refunds
- $19.9 million in cash refunds returned to low and moderate-income Minnesota families
- 615 volunteers gave over 16,800 hours of their time to prepare over 30,000 tax returns
Each year AccountAbility Minnesota expands the number of taxpayers and communities served with free tax assistance. 2007 is no exception, which the following table illustrates:
However, there is a huge unmet need for free tax assistance across the state. According to Internal Revenue Service (IRS) estimates, only 75% - 80% of eligible households claim the EITC. Thousands of eligible households do not file for these credits and the federal dollars go unclaimed. In addition, certain segments of the business community have targeted this population and are taking advantage of these substantial refunds to charge exorbitant fees and interest for tax preparation and refund anticipation loans (RALs).
In the Twin Cities, AccountAbility Minnesota has established partnerships with U.S Federal Credit Union and City & County Credit Union to provide an alternative to high interest Refund Anticipation Loans and access to savings accounts and other financial services. This groundbreaking Express Refund Loan and Savings Program, the first such partnership in the country, offers qualified taxpayers a free refund loan, provided they open a no-fee savings account at the credit union. The goal is to help taxpayers establish a relationship with a mainstream financial institution as well as save them $200 - $500 in tax preparation, loan fees and interest. In 2007, AccountAbility Minnesota opened savings accounts for 361 customers and approved 243 Express Refund Loans.
AccountAbility Minnesota has an impressive track record of reaching diverse populations with its services in the Twin Cities. Tax site customers face daunting hurdles in filing accurate and timely returns due to language, educational, cultural and accessibility barriers. AccountAbility Minnesota has established strong partnerships with community-based organizations that serve communities most in need. During the 2007 tax season, 68% of AAM’s customers were from communities of color, recent immigrants, English language learners or persons with disabilities. Customers also reported 64 different primary languages.
The following table reflects the populations served at AccountAbility Minnesota’s Twin Cities sites:
The majority of tax preparation is accomplished by leveraging volunteer resources. AccountAbility Minnesota has 36 years of experience in both recruitment and training of volunteers to expertly complete tax returns and maximize tax credits for low-income working individuals, families and small businesses. AccountAbility Minnesota’s tax volunteers are among the most highly trained in the country and help accomplish the organization’s goals efficiently and with a human touch.
For more information contact:
Bonnie Esposito, Executive Director
651-287-0187, Ext. 105 / besposito@accountabilitymn.org
www.accountabilitymn.org
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