Vacap

Highly Engaged Employees

VACAP works with coalitions to promote the EITC (Earned Income Tax Credit) through the Virginia CASH Campaign. CASH stands for Creating Assets, Savings and Hope. The mission is to raise awareness of the EITC among all eligible taxpayers and to educate them of the importance of obtaining all tax credits to which they are entitled. A Virginia CASH Ca... mpaign coalition partner is an organization or group of organizations working together to provide free income tax preparation services in their communities. The coalition can be made up of many diverse organizations and may provide a number of services linked with the tax program; financial education, matched savings programs or credit report counseling. Coalitions help promote the EITC by using their community communications network so that more eligible people become aware of the credit and know to ask about it when they are having their taxes prepared. The CASH Campaign helps to define the groups and brings everyone under one recognizable name throughout the Commonwealth. Providing free tax preparation services and keeping taxpayers compliant are two of the most important functions of the CASH Campaign. The Earned Income Tax Credit (EITC) Initiative grant program supports community groups and local coalitions throughout the Commonwealth as they provide free tax preparation services to low and moderate income working individuals and families. Coalition partners can participate in the grant program and those who qualify may use the grant funding to promote EITC outreach, education and free income tax preparation services. In 2003, there were eight agencies providing VITA services to about 2,600 taxpayers in Virginia. In 2006, the Virginia General Assembly appropriated $230,000 in general funds (fiscal 2006-2007) to the Virginia Community Action Partnership to provide EITC grants to local organizations to provide education, outreach and free income tax preparation services to citizens who may be eligible for the Earned Income Tax Credit. Virginia CASH Campaign and ...Read More