AmeriCorps recovers record $84 million in tax breaks for low-income taxpayers
The Internal Revenue Service 1040 tax form for 2022 is photographed
By Justin Gamble, CNN
(CNN) — AmeriCorps recovered a record $84 million in overlooked deductions, credits and tax breaks for low-income Americans in the 2023 tax season, the federal agency announced Friday.
The organization for volunteerism and national service, created by President Bill Clinton in 1993, assisted in aiding over 113,000 taxpayers in more than 130 cities, according to a release.
AmeriCorps annually teams up with local non-profits to ensure low-income taxpayers receive all tax breaks and credits for which they are eligible. Last year, the organization recovered about $14 million for taxpayers AmeriCorps spokesman Jonah Bryson told CNN. The record recovery was due to more volunteers being able to help in more cities, at more sites and collaboration with more nonprofit organizations.
“We’ve been supporting tax relief programs nationwide for over 20 years, and they’re just one of many ways our network of service members support low-income families across America,” AmeriCorps CEO Michael D. Smith tells CNN, adding “We’re putting money right back into the pockets of those who need it most.”
Assistance that was desperately needed and appreciated, said one nonprofit executive. Nathan Davis, senior director of Mile High United Way, tells CNN his organization operated 30 tax preparation sites in 2023 across Colorado and 13 of those “…would not have been possible without our AmeriCorps partnership.”
Davis said that having the additional help allowed his team to provide more stable hours at their locations which allowed them to increase the number of people they could serve.
In addition to youth AmeriCorps volunteers, the organization also aided low-income taxpayer assistance organizations through their AmeriCorps Seniors program, which enables Americans aged 55 and older to serve their local communities.
Atalaya Sergi, the Director of the AmeriCorps Seniors program said over 1,890 volunteers joined in the effort to provide tax preparation services. “The volunteers generated more than $69 million in 2022 tax returns, creating a value of $36,721 per AmeriCorps Seniors volunteer,” Sergi said.
The-CNN-Wire
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