Kicking Off its 9th Year, EBALDC's Free Tax Preparation Service Helps East Bay Families, and Now Small Business Owners

OAKLAND, Calif., Jan. 28, 2011 /PRNewswire-USNewswire/ -- Saturday, Jan. 29, marks the start of the 2011 tax season for the Volunteer Income Tax Assistance (VITA) program of the East Bay Asian Local Development Corporation (EBALDC). The program provides free tax income preparation services to low to moderate income families of Alameda and Contra Costa Counties as part of the United Way of the Bay Area's Earn it! Keep it! Save it! Campaign.

At EBALDC VITA sites, income-eligible households can access free tax services that are bundled with asset development opportunities and pre-screening for public benefits. In addition to its location at the Asian Resource Center (310 8th St.; 510-287-5353) in Oakland's Chinatown, services are available at the SparkPoint Oakland Center (885 69th Ave., Suite 102; 510-969-8774) in East Oakland. Tax appointments can be made by phone.

EBALDC is the only VITA program in California this year – one of 12 sites nationwide – to provide Schedule C filing for small business owners. "This vital service will help strengthen our local economy by bringing much-needed money back to entrepreneurs in our community," said Wilson Pho, Program Manager at EBALDC.

Schedule C filing is available through a national pilot administered by the Corporation for Enterprise Development. Self-employed taxpayers are eligible for this free service if their total income after expenses is less than $50,000, and their business expenses do not exceed $25,000. Interested and qualified Schedule C filers must attend an info session at the Asian Resource Center.

Also new this year, the Tax Time Savings campaign aims to promote saving among tax clients at the SparkPoint Oakland Center by offering easy and flexible ways to set aside all or a portion of tax refunds. Savings Specialists will be on site to explain options like savings bonds or split refunds.

"We really wanted to provide some convenient savings options for our SparkPoint members, who told us that they want to save for emergencies, school expenses, or to buy a house or car," explains Charise Fong, EBALDC Director of Neighborhood Economic Development. "Members can simply choose an amount from their tax refund to put towards savings, and it can be placed into an account right then at the tax appointment."

Since 2003, the EBALDC VITA program has served over 3,200 low income households and returned close to $3.7 million in federal and state refunds. The program aims to help households claim their maximum refunds, including the Earned Income Tax Credit (EITC), and save money they might otherwise spend on paid tax services and expensive refund anticipation loans. The MetLife Foundation Community Development Initiative is a major program sponsor this year.

EBALDC plans to help 1,200 households prepare tax returns this season, relying on the generosity of about 75 volunteers serving as IRS-certified tax preparers, translators, and greeters.

Both tax site locations are accessible by public transportation. Language assistance and translation in Mandarin and Cantonese are available at the Asian Resource Center location.

Visit www.ebaldc.org for more information about volunteer opportunities and tax services.

About EBALDC

With 35 years of experience, EBALDC has grown from a small nonprofit immigrant and refugee services organization, with the vision of building a multi-service center for Asian American and Pacific Islander families in Oakland's Chinatown, to become a leading community development corporation. Now serving populations reflective of one of the most diverse regions of the Bay Area, we build vibrant, healthy, and just neighborhoods through our programs that build, preserve, and maintain high quality affordable housing and community and retail facilities. We integrate services within our developments to increase economic opportunities for tenants and neighborhood residents. To date, EBALDC has developed 158 homes for sale, 1,467 homes for rent, and over 370,000 sq. ft. of commercial space housing over 70 nonprofit service providers and small businesses across Oakland and the East Bay. For more information, please visit www.ebaldc.org or call 510-287-5353.

SOURCE East Bay Asian Local Development Corporation (EBALDC)