READER’S VIEW
FIGHTING POVERTY
Program offers tax help to aid needy
In United Way’s recent Community Assessment, we learned that Idaho fared poorly on a nationwide scorecard measuring asset poverty. “Asset poverty” means that in the face of a sudden job loss or medical emergency, there is not enough savings to provide for basic needs for three months. For these people, life on the edge is a daily reality.
United Way of Treasure Valley, in partnership with Bank of America and the Coalition for Economic Improvement, is kicking off a program this month that is proven to address this issue. The Earned Income Tax Credit is an often overlooked results-based program that, according to census data, lifts more children out of poverty than any other program or category of programs. Between Jan. 31 and April 15, free tax preparation services will be available throughout the Treasure Valley to help eligible families file for the credit.
Families earning up to $49,000 may qualify for the EITC. Last year’s average return was $2,139: a nice boon for hard-working families. This money could be put toward an education, or down payment on a first home. Another United Way program, Individual Development Accounts, helps to quickly boost savings toward these goals. Every dollar saved is matched with an additional $2, up to a maximum of $6,000 per year. One of the program requirements, financial literacy courses, helps to ensure its long-term success.
To find out if you quality for the Earned Income Tax Credit, call 211. Learn more about United Way’s Individual Development Account program at unitedwaytv.org.
Hart Gilchrist is director of operations services for Intermountain Gas Co. and member of United Way of Treasure Valley board of directors.
