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Unclaimed Tax Benefits: Free Tax Prep L.A. Empowers Low-Income Angelenos
How Free Tax Prep L.A. Connects Californians to Unclaimed Tax Benefits
Free Tax Prep L.A. aids low- and moderate-income workers in Los Angeles County ensuring they claim benefits like the Earned Income Tax Credit (EITC), according to the published article of LA Times. Many eligible Californians miss out on these credits leaving millions unclaimed yearly.
Sandy Huaman, a single mother accessed a program funded by the L.A. city and L.A. County Department of Consumer and Business Affairs as well as the Koreatown Youth + Community Center. This enabled her to receive significant tax refunds allowing her to visit her ailing godmother in Peru.
Graduate student Janet Hernandez learned about the program via Instagram and qualified for a federal lifetime learning credit which helped cover her education expenses.
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Millions in Unclaimed Tax Benefits. (PHOTO: google)
Free Tax Prep L.A. Paves the Way to Unclaimed Tax Benefits and Financial Empowerment
To qualify for the federal EITC individuals must have earned less than $63,398 the previous year. Language, cultural barriers, and fear of impacting public benefits hinder some from claiming credits.
Amanda Rodriguez, asset-building coordinator at Koreatown Youth + Community Center stresses the importance of claiming tax benefits for economic security.
Volunteers like Aliza Katz and Mayer Bick undergo training to assist at events combining their interest in math and taxes to help others.
Besides tax benefits program offers financial education, credit-building services, and incentivized savings programs. Empowering individuals to enhance their financial situation and secure their families futures.
READ ALSO: Dependents Equal Tax Savings: A Helping Hand For Family Finances
