CRI
Home Page > About
CRI > CRI
Strategic Areas > Modest Means > Just file it! We'll Help
Our Commitment to Financial Education
 In
November 2005, the Michigan credit union community embraced a
new program that has provided millions of Michigan families an
affordable alternative to income tax filing companies and high interest
refund anticipation loans. These services often charge excessive
fees and onerous interest rates at the expense of those who can
least afford it.
 Dubbed the “Just
File It! We’ll Help! Campaign,” the
initiative finds credit unions offering
tax filers free resources to complete their state and federal
income tax
returns.
Filers simply need to visit a participating credit union's Web
site to complete their tax forms online.
The process
is fast, easy and free. The Just File It! We’ll Help! initiative
puts power and control back in the hands of the filer. Just File it! is a REAL Deal for consumers across the state when filing their taxes.
To view a list of credit unions participating in the Just file it! program, please click here.
The Just file it! We’ll help. program statistics for the last 3 years clearly show the success of the program for residents of the state.
| Tax year |
Program year |
Number of Credit Unions |
Number of credit union filers |
Total number of filers |
| 2005 |
Year 1: 2006 |
33 |
155 |
230 |
| 2006 |
Year 2: 2007 |
59 |
807 |
2291 |
| 2007 |
Year 3: 2008 |
86 |
1873 |
7749 |
| Program Year |
Federal Refunds |
Earned Income Tax Credit |
State Refunds |
Total State and Federal Refunds and Credits |
| Year 1: 2006 |
$ 464,405 |
$ 298,260 |
$ 76,396 |
$ 540,801 |
| Year 2: 2007 |
$ 2,488,507 |
$ 1,029,142 |
$ 483,781 |
$ 2,972,288 |
| Year 3: 2008 |
$ 8,795,984 |
$ 2,305,086 |
$ 3,467,345 |
$ 12,263,329 |
Several credit unions hosted Volunteer Income Tax Assistance (VITA) sites in 2008 for the 2007 tax filing season as well. These sites returned an additional $1,000,000 to low and moderated income tax filers. To learn how to start a VITA site in your area click on the VITA site tab for more information.
Why Credit Unions Are Helping
The Michigan credit union community, through its broad geographic and socioeconomic reach, can serve as an effective catalyst for low and moderate income families and individuals to access much needed tax credits. These credits can significantly increase the income available to working people, either by providing refunds up to a maximum dollar amount or by decreasing the amount of taxes due to the IRS. The federal income tax benefits alone can be as great as $4,824 for individuals or families with two children who are married and earning less than $41,646. This year low and moderate income wage earners are, for the first time, earning a State Earned Income Tax Credit. This year those using Just file it! will file for this new state tax credit which will equal 10% of their federal EITC for 2008 and in the future will equal 20% of their federal Earned Income Tax Credit(EITC).
It’s money that families can use to put food on the table… move
into better housing… invest in education… save for
the future... and contribute back to the community.
|
