Here are some of the ways low income workers get the most out of their tax refunds.
Refunds For The Low Income Workers
Sandy Huaman, one of the low income workers population who works as a part-time receptionist and server, received help from a volunteer tax preparer. As one of the low income workers in the state, she is getting back all the taxes deducted from her paycheck.
Free Tax Prep L.A. sites in Los Angeles County are helping low income workers, even the moderate ones, to file their returns and claim valuable tax credits, such as the earned income tax credit. This credit provides financial relief to low income workers living paycheck to paycheck and can help lift people out of poverty.
Aside from low income workers, Janet Hernandez, a graduate student, learned about the free tax assistance program on Instagram and is eligible for a federal lifetime learning credit. She plans to deposit half of her refund into a savings account and use the rest as needed.
According to a published article by SmartNews, the Koreatown Youth + Community Center also offers financial education, credit-building services, and savings programs to help individuals like Hernandez and all the other low income workers to improve their financial well-being.
Department of Social Welfare and Development’s Assistance
In a published article by SunStar Philippines, the DSWD’s proposal to provide a one-time P5,000 assistance to private sector workers earning less than P23,000 monthly was well received by labor groups and DOLE.
The funds will come from the Ayuda sa Kapos sa Kita program in the 2024 budget. Labor groups like KMU and Partido Manggagawa are in support of the proposal, as they believe it will help workers struggling with inflation and high living costs.