Millions of dollars go unclaimed each year during tax season. This year, more than ever, filing taxes can put money back into pockets of those who need it most.
Among the IRS-certified volunteers providing assistance, Umpqua Bank employee volunteers contribute more than 200 hours annually to assist nonprofit organizations with free tax preparation for low-income residents to help them claim important federal tax credits, such as the Earned Income Tax Credit (EITC) and Child Tax Credit. Similar state tax credits may also be claimed.
The Earned Income Tax Credit, which may give families up to $6,660 back when they file taxes, is a federal and state tax credit for people making up to $56,844 per year. Too many miss out because they simply do not know about it. Check eligibility requirements for the Earned Income Tax Credit (EITC) and other credits, which can still be claimed going back to 2017.
“Only three out of four eligible Oregonians claim the tax credits for which they are eligible, according to CASH Oregon,” said Brenden Butler, Umpqua Bank vice president and community development officer. “Umpqua Bank employees are committed this year, as we are every year, to help return as many tax credits as possible back into the community.”
"MFS CASH Oregon is dedicated to helping Oregonians access the Earned Income Tax Credit, and we're grateful to all our volunteers, including Umpqua Bank associates, for their ongoing commitments," Riley Eldredge, MFS CASH Oregon Program Manager.
Oregon and Washington locations to seek free tax assistance include MFS CASH Oregon, NeighborWorks Umpqua’s Volunteer Income Tax Assistance (VITA), United Way of King County, United Way My Free Taxes, and AARP Foundation’s Tax-Aide. During the current tax season, advance appointments are required and most assistance will be conducted remotely.
Pre-pandemic, Umpqua Bank began ramping up its virtual volunteering infrastructure as part of its human-digital strategy, expanding upon the bank’s long-standing employee volunteer program. Since 2004, Umpqua Bank associates have served more than 550,000 volunteer hours.