BENTONVILLE, Ark., Jan. 25, 2012 /PRNewswire/ -- The following statements reference the Walmart Foundation's donation of $4.35 million to United Way Worldwide, One Economy and the National Disability Institute's Real Economic Impact Tour to provide free tax filing services to eligible Americans nationwide, along with Earned Income Tax Credit (EITC), SNAP and WIC eligibility education.
The MyFreeTaxes program, which launched this morning, is expected to help return an estimated $1.75 billion in total tax refunds, credits and tax preparation fee savings to eligible taxpayers this year.
"In this challenging economic climate, we know there are a lot of families who struggle to have their taxes prepared, which can sometimes costs hundreds of dollars. Many of these same families are missing out on substantial tax credits because they don't know they're eligible for them.
"We're proud of our collaborative program to offer eligible tax filers free tax preparation as well as critical information about claiming their Earned Income Tax Credit. Millions of Americans will be eligible for the savings we offer through this program, which we hope will help ease the day-to-day financial pressures many of them are facing."
--- Michelle Gilliard, Senior Director, Walmart Foundation
"Our partnership with the MyFreeTaxes program is a win for taxpayers. By providing free tax preparation and filing assistance to eligible individuals and families nationwide we're bringing people into the tax system and educating them about their rights and options. At the same time, we're making a difference for taxpayers by helping them access vital tax credits and an array of financial education and asset building opportunities."
--- Peggy Bogadi, Commissioner, Wage & Investment Division,
Internal Revenue Service (IRS)
MyFreeTaxes Background and Filing Details:
For most taxpayers earning less than $57,000 per year, the Walmart Foundation's $4.35 million grant in support of the MyFreeTaxes program will:
- Fund 100 United Way led, community-based tax preparation efforts at Volunteer Income Tax Assistance (VITA) sites. For specific eligibility information, and to find a local site, dial 2-1-1;
- Support MyFreeTaxes.com, operated by One Economy, which provides free online self-tax preparation and details on in-person IRS-certified, volunteer tax prep assistance in 20 cities through MyFreeTaxes mobile vans. To file online, review eligibility requirements and see the most current mobile van schedule, visit www.MyFreeTaxes.com;
- Support the National Disability Institute's Real Economic Impact Tour which is aimed at providing free tax preparation and filing assistance, along with other asset building strategies, to eligible low-income persons with disabilities. Visit www.realeconomicimpact.org to learn more.
In addition to the tax preparation services offered by the MyFreeTaxes program partners, taxpayers will also have access to eligibility information about the Earned Income Tax Credit (EITC) as well as SNAP and WIC benefits. Consumers can also calculate their EITC benefits via mobile device by visiting: http://bit.ly/mytaxbackapp.
Key Data Points:
- Since 2009, the MyFreeTaxes program has helped more than 3 million taxpayers file free tax returns, resulting in more than $4 billion in federal income tax refunds, $1 billion in Earned Income Tax Credits and $620.5 million in tax preparer fee savings. It has also helped more than 420,000 taxpayers with disabilities file their returns.
- Of the 135 million U.S. taxpayers in 2011, 80 million reported adjusted gross incomes of $50,000 or under. Many of those taxpayers were eligible for a number of tax credits that often go unclaimed. The MyFreeTaxes program is expected to help return more than $1.75 billion in total tax refunds, credits and tax preparation fee savings to eligible families nationwide.
About Philanthropy at Walmart
Walmart and the Walmart Foundation are proud to support initiatives that are helping people live better around the globe. In May 2010, Walmart and its Foundation made a historic pledge of $2 billion through 2015 to fight hunger in the U.S. The Walmart Foundation also supports education, workforce development, environmental sustainability, and health and wellness initiatives. To learn more, visit www.walmartfoundation.org
About United Way
United Way is a worldwide network in 41 countries and territories, including more than 1,200 local organizations in the U.S. It advances the common good, creating opportunities for a better life for all by focusing on the three key building blocks of education, income and health. United Way recruits people and organizations who bring the passion, expertise and resources needed to get things done. LIVE UNITED® is a call to action for everyone to become a part of the change. For more information about United Way, please visit: www.LIVEUNITED.org.
About One Economy
One Economy Corporation is a global nonprofit organization that uses innovative approaches to deliver the power of technology and information to low-income people. More than 20 million people have used One Economy's online tools and resources, including public-purpose media at www.pic.tv, to build better lives. Learn more at www.one-economy.com.
About National Disability Institute's Real Economic Impact Tour
National Disability Institute (NDI) is national non-profit organization dedicated to building a better economic future for people with disabilities. The first national organization committed exclusively to championing economic empowerment, financial education, asset development and financial stability for all persons with disabilities, National Disability Institute effects change through public education, policy development, training, technical assistance and innovative initiatives such as the Real Economic Impact (REI) Tour, which brings tax and financial education for people with disabilities to more than 100 cities nationwide. To learn more, visit www.realeconomicimpact.org.
SOURCE Wal-Mart Stores, Inc.