Weatherhead School of Management to assist local community members prepare taxes

Suneil Kamath, Civic Engagement Reporter

According to the National Bureau of Economic Research, a growing number of people do not have the financial knowledge to understand how to properly prepare taxes.

This upcoming tax season, Case Western Reserve University’s Weatherhead School of Management is offering a basic tax-assistance program for local Clevelanders in conjunction with the Cuyahoga Earned Income Tax Credit (EITC) Coalition.

Formed in 2004, the Cuyahoga EITC Coalition has helped over 10,600 clients across Cuyahoga County receive over 77 million dollars in refunds through the federal government’s EITC law.

As stated by the Internal Revenue Service (IRS), the EITC law, passed in 1975, is a refundable tax credit for low-income families to help relieve the stress of social security taxes and also provide a motive to work. According to the IRS, the EITC law is one of America’s largest antipoverty programs and helped raise 6.6 million people out of poverty last year. In Ohio, approximately 952,000 people filed for EITC in 2012 and received an average of $2238.

At program sites, such as the one taking place at Weatherhead, volunteers will help low-income families prepare their taxes for free, while also promoting financial literacy and independence.

“I think it’s a good program because not a lot of people, especially low-income people, know how to successfully complete their taxes, and they need to have it done right, so they can get as much of their money back as they can,” said CWRU freshman Gabi Cage.

Weatherhead’s tax assistance program will take place throughout the months of February and March.