Walmart Foundation Tax Preparation Partnership Expects to Yield More Than $1 Billion in Tax Savings for Consumers

BENTONVILLE, Ark., Jan. 28 /PRNewswire-FirstCall/ -- The Walmart Foundation, United Way Worldwide, One Economy Corporation and National Disability Institute (NDI) have partnered to bring free tax preparation and filing services to consumers nationwide. The initiative will also help educate consumers, and provide free preparation and filing for the Earned Income Tax Credit (EITC), a federal income tax credit of which many are unaware.

A $4 million grant from the Walmart Foundation will be shared among the program partners and is expected to help return $1 billion in total tax refunds, credits and tax preparation savings. In 2009, a similar effort from the Walmart Foundation helped more than 650,000 people receive tax refunds, credits and tax preparation savings totaling more than $950 million.

"The Walmart Foundation is building on the success of last year's program to again put savings and EITC refunds back in taxpayers' pockets," said Margaret McKenna, president of the Walmart Foundation. "As many continue to feel the impact of the challenging economy, our goal is to establish a more integrated and accessible program that helps Americans live better lives."

"EITC can be a financial boost for working people hit by hard economic times," said Julie Garcia, Director of the IRS Stakeholder Partnerships, Education and Communication division. "One in four eligible taxpayers overlooks the credit and this partnership is helping those who need it most."

Through this effort, a series of activities will take place:

• United Way Worldwide will assist Americans who earn less than $49,000 with free tax and EITC filing at 91 community-based tax preparation sites.
• Tax-payers earning less than $58,000 per year can take advantage of the MyFreeTaxes.com national tour. Equipped with One Economy's online tax filing technology and IRS-trained tax professionals, the tour will visit 30 communities across the U.S.
• The NDI's Real Economic Impact Tour will assist qualifying taxpayers with disabilities who earn $49,000 or less. Funding from the Walmart Foundation allows NDI to expand its disability-inclusive tax assistance programs, including making free tax preparation sites and online tools accessible to disabled filers.

For additional information on United Way tax preparation sites, the MyFreeTaxes.com National Tour, the NDI's Real Economic Impact Tour and eligibility requirements visit www.walmartfoundation.org or www.myfreetaxes.com.

About Philanthropy at Walmart  

Walmart and the Walmart Foundation are proud to support the charitable causes that are important to customers and associates in their own neighborhoods. Through its philanthropic programs and partnerships, the Walmart Foundation funds initiatives focused on creating opportunities in education, workforce development, economic opportunity, environmental sustainability, and health and wellness. From February 1, 2008 through January 31, 2009, Walmart – and its domestic and international foundations – gave more than $423 million in cash and in-kind gifts globally. To learn more, visit www.walmartfoundation.org.

About United Way

United Way is a worldwide network in 45 countries and territories, including nearly 1,300 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. The United Way movement creates long lasting community change by addressing the underlying causes of problems that prevent progress in these areas. LIVE UNITED is a call to action for everyone to become a part of the change. For more information about United Way, please visit: 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 17 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

Designed to provide Americans with disabilities insight, tools and resources to improve their lives through financial education, training and counseling, The Real Economic Impact Tour (REI Tour) is a groundbreaking effort powered by the National Disability Institute (NDI) that's been the gateway for many to explore opportunities which connect them to financial independence. The 100 2010 REI Tour cities focus on assisting taxpayers with disabilities who earn $49,000 or less who may be eligible for certain tax credits. Key components include free tax preparation and financial education plus benefits counseling, asset summits, workgroup meetings, audio conferences and more in select cities. The 2010 Real Economic Impact Tour. Tax knowledge is freedom. To learn more, visit www.realeconomicimpact.org

SOURCE Walmart Foundation