Question

Can you outline the four essential steps involved in your non-profit service's assistance to low-income families during tax season?

Answer 1

Non-profit services assist low-income families during tax season by educating them about tax credits and deductions, assisting with tax preparation, connecting them with financial assistance programs, and promoting financial literacy.

Step-by-step explanation:

When assisting low-income families during tax season, non-profit services typically follow four essential steps:

1. Educating families about tax credits and deductions: Non-profits inform families about tax credits such as the Earned Income Tax Credit (EITC) and deductions they may be eligible for. They explain how these benefits can help increase their tax refund or reduce their tax liability.
2. Assisting with tax preparation: Non-profits often provide free or low-cost tax preparation services to help families accurately complete their tax returns. This includes ensuring they claim all eligible credits and deductions.
3. Connecting families with financial assistance programs: Non-profits help families navigate and access additional financial assistance programs, such as Temporary Assistance for Needy Families (TANF) or Microcredit, that can provide support beyond tax season.
4. Promoting financial literacy: Non-profits offer resources and workshops to help families develop financial literacy skills, including budgeting, saving, and planning for the future.