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Breaking the Cycle of Poverty Through Free Tax Initiatives



FOR IMMEDIATE RELEASE

6/9/2023

Joyce Lam

Executive Director

Kaimore


21011 Commerce Pointe Dr

City of Industry, CA, 91789

Phone Number (424) 281-9029

info@kaimore.org


Free Tax Initiative for Underserved Communities


Kaimore, a leading nonprofit in Los Angeles, announced today the extension of a new initiative that focuses on addressing challenges faced by low-income communities that need assistance with making sound financial choices that aim to achieve economic stability.


The program, Volunteer Income Tax Assistance (VITA), provides services to people who qualify for free basic tax preparation. The extended service will run until October 15. This extension will accommodate people who file after the original deadline.


VITA allows volunteers to provide tax free preparation for the unhoused population. Kaimore is the only organization in Los Angeles that takes to the streets to meet one-on-one with the unhoused population to complete tax returns.


"We firmly believe that everyone, regardless of their socio-economic background, deserves the opportunity to build a better future," says Joyce Lam the Executive Director of Kaimore "By enhancing financial literacy and empowering individuals with the knowledge and skills to manage their finances effectively, we can help break the cycle of poverty and foster economic growth in our community."


Qualifiers generally earn $60,000 or less. In addition, Kaimore accommodates those with disabilities. Through this outreach program, Kaimore has delivered over $500,000 in credits and tax refunds per year through free E-filing services in partnership with the IRS.


People with zero income can opt to refrain from filing a tax return. However, these participants can file a tax return showing zero income, because tax credits can be earned even if your tax is $0. The Earned Income Tax Credit or the Additional Child Tax Credit are examples of credit opportunities.

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Without VITA, disenfranchised people would need to pay for services that can cost hundreds of dollars depending on the complexity of the tax return. VITA has been offering these services for over 50 years.


The IRS manages VITA by providing people with services staffed by volunteers who must take and pass training courses to attain or exceed IRS standards. In the United States, tens of thousands of volunteers prepare millions of federal and state returns per year.


Kaimore originated in 2020 and has been offering underserved communities with budgeting, savings guidance, debt management, credit education, basic investment principles, and more by developing equity-focused strategies to create monetary opportunities to minorities.


"Our organization is committed to creating positive change in the lives of individuals and families in our community," said Joshua Stancle Director of Housing at Kaimore. "By offering comprehensive financial literacy programs, we aim to equip participants with the skills they need to make sound financial choices and achieve economic independence."


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