PowerPoint

Document Sample
PowerPoint
Establishing A

Volunteer Income Tax Assistance (VITA) Site:

How and Why



By the National Credit Union Administration

in partnership with the

U.S. Internal Revenue Service









Establishing a VITA Site: How and Why

1

Presentation: Summer 2008

Quick Reference

TOPIC SLIDE #

• Purpose of Presentation 3

• Objectives of Presentation 4

• VITA Program 5

• IRS VITA Grant Program 22

• NCUA Resources 35







Establishing a VITA Site: How and Why

2

Presentation: Summer 2008

Purpose of Presentation

This PowerPoint presentation was

developed for credit unions and

accompanies a video of the same title.



The video may be accessed from the

NCUA website at: www.ncua.gov.

1. Follow the links to

“The Resource Connection”,

2. Then “The Training Connection”,

3. Then “Presentations”.









Establishing a VITA Site: How and Why

3

Presentation: Summer 2008

Objectives of Presentation

 Inform credit unions of VITA Program

and the IRS VITA Grant Program.

 Encourage credit union participation in

the IRS programs.

 Provide detailed information to

accompany the “Establishing A VITA

Site: How and Why” video.

 Inform credit unions of the Community

Development Revolving Loan Fund VITA

Grant Program.

Establishing a VITA Site: How and Why

4

Presentation: Summer 2008

Internal Revenue Service

Volunteer Income Tax Assistance Program









Establishing a VITA Site: How and Why

5

Presentation: Summer 2008

What is the VITA Program?



1. Free, income tax preparation for low-to-

moderate income consumers provided by

volunteers.

2. Volunteers are trained through program to

prepare basic tax returns.

3. Returns are completed at community-based

organizations approved by IRS (VITA sites).

Credit unions can be VITA sites.





Establishing a VITA Site: How and Why

6

Presentation: Summer 2008

Purpose



Addresses the needs of consumers of modest

means by targeting Earned Income Tax

Credit (EITC) eligible individuals and

households, such as:

• Low-to-moderate income individuals & families

• Persons with disability

• Those with “Limited English Proficiency”

• Native Americans

• Residents of rural communities



Establishing a VITA Site: How and Why

7

Presentation: Summer 2008

Why Establish A VITA Site?

Benefits of Participation





For Members & Community For Credit Union

 Free Tax Preparation  No/ Minimal Cost

 Electronic Filing  Training for Volunteers

 Free tax preparation

 Education & Outreach software

 Financial Literacy  Potential to Increase

 Asset Building Member Services (deposits,

loans, etc.)

 Opportunity to Increase

Community Involvement

Establishing a VITA Site: How and Why

8

Presentation: Summer 2008

Why Establish A VITA Site?

Successful Results



 Credit union

participation has grown

from 64 to 246.

 97 credit unions in

coalitions

 NCUA & IRS encourages

participation.







Establishing a VITA Site: How and Why

9

Presentation: Summer 2008

Why Establish A VITA Site?

2007 STATISTICS



Returns filed by credit unions thru VITA:



 19,474 returns filed

 Over $20 million in total refunds

 $8.9 million in EITC dollars









Establishing a VITA Site: How and Why

10

Presentation: Summer 2008

How to Establish A VITA Site

8 Steps



1. Review IRS guide on VITA 4. Recruit Volunteers

Sites 5. Schedule Training

2. Contact Local IRS Office 6. Select Site Location

thru IRS Senior Tax 7. Select Site Coordinator

Analyst Debra Chandler,

who is national office 8. Market VITA Site

coordinator

3. Obtain an Electronic Filing

Identification Number

(EFIN)

Establishing a VITA Site: How and Why

11

Presentation: Summer 2008

How to Establish A VITA Site

1. Obtain and review Publication 1084,

an informational guide on VITA Sites.



 By Email: www.irs.gov

 By Phone: (800) 829-1040









Establishing a VITA Site: How and Why

12

Presentation: Summer 2008

How to Establish A VITA Site

2. Contact local IRS office.

 Email Ms. Chandler at: debra.chandler@irs.gov

to request information regarding the IRS local

office.

 Determine if the credit union will be a host or

part of a coalition.

• If coalition, work with coalition.

• Refer to Steps 3 – 8 (on the following screens) for

credit unions wishing to host a stand alone site.



Establishing a VITA Site: How and Why

13

Presentation: Summer 2008

How to Establish A VITA Site



3. Obtain an Electronic Filing Identification

Number (EFIN).

 Approximately six weeks to obtain EFIN.









Establishing a VITA Site: How and Why

14

Presentation: Summer 2008

How to Establish A VITA Site



4. Recruit Volunteers – Recommended

resources:

 High Schools; post secondary schools

 United Way-Volunteer Centers

 Professional and Civil Associations

 Rural Volunteer Organizations (e.g., 4-H

Club, County Extension Services)



Establishing a VITA Site: How and Why

15

Presentation: Summer 2008

How to Establish A VITA Site



5. Schedule Training.

 Generally lasts one week

 Usually conducted in December

 Classroom or Web-based (Link & Learn)









Establishing a VITA Site: How and Why

16

Presentation: Summer 2008

How to Establish A VITA Site



6. Select site location with consideration to:



 Preferably in low- to moderate-income

neighborhoods

 High-Speed internet capabilities

 Reasonable accommodations (e.g.,

privacy, accessibility)



Establishing a VITA Site: How and Why

17

Presentation: Summer 2008

How to Establish A VITA Site



7. Select a Site Coordinator.

 Responsible for day-to-day site operation



8. Market VITA Site.

 Recommended to increase impact,

particularly to encourage nonmembers to

become members.





Establishing a VITA Site: How and Why

18

Presentation: Summer 2008

VITA Program

Key Operation Period



Mid-January - April 15th



Depending what day the 15th falls on

Operating schedule as resources allow









Establishing a VITA Site: How and Why

19

Presentation: Summer 2008

What does IRS Provide?





Free training

Computers (based on availability)

Software (TaxWise)

Technical Support (Tax Law)

Computer Support









Establishing a VITA Site: How and Why

20

Presentation: Summer 2008

Contact the IRS directly.



To locate and obtain information from your

local IRS Office, email IRS Senior Tax Analyst

Debra Chandler at:

Debra.Chandler@irs.gov



For inquiries about the VITA Program, email

IRS staff at: Partner@irs.gov







Establishing a VITA Site: How and Why

21

Presentation: Summer 2008

Internal Revenue Service

VITA Grant Program









Establishing a VITA Site: How and Why

22

Presentation: Summer 2008

What is the IRS VITA Grant Program?





A new funding initiative for the VITA Program.

In 2007, Congress appropriated $8 million in

funds for this program.

Initial funding is for one-year.

Funds available until September 1, 2009.







Establishing a VITA Site: How and Why

23

Presentation: Summer 2008

Purposes of the Grant





 Expand services to underserved

populations and hard-to-reach areas.

 Increase capacity to file returns

electronically.

 Enhance training of volunteers.

 Improve accuracy rate of returns prepared

by VITA sites.



Establishing a VITA Site: How and Why

24

Presentation: Summer 2008

Eligibility Criteria

 One of the following:

– Private or public Non-Profit 501(a) tax exempt

organization (Credit unions are eligible under

this provision.)

– State or Local government agency (includes

Native American Tribal governments)

– Educational Institution under IRS Section 501

OR

 Any regional, statewide, or local VITA

coalition with one lead organization



Establishing a VITA Site: How and Why

25

Presentation: Summer 2008

Eligibility Criteria

Also Must:

 Comply with:

– Applicable civil rights requirements

– OMB guidance

– Federal regulations

– Federal tax and payment requirements

 Have capacity to electronically file returns.

 Demonstrate matching funds contributions (refer

to next slides).

 Obtain Data Universal Numbering Systems (DUNS)

number.



Establishing a VITA Site: How and Why

26

Presentation: Summer 2008

Matching Funds





 Dollar-for-dollar (1:1) match

 Received by October 2008

 Expended by September 2009









Establishing a VITA Site: How and Why

27

Presentation: Summer 2008

Matching Funds

 Acceptable forms of match:

– Cash

– Third party in-kind contributions (donated

property or services- some restrictions apply)

– Computer hardware (depreciable value) and

software

 Match may be a combination of the types

listed above.



See page 5 of the grant application for more

information.

Establishing a VITA Site: How and Why

28

Presentation: Summer 2008

Matching Funds



Ineligible Sources

 Funds from other federal government

agencies, including NCUA grants.

 Services of students to satisfy academic

requirements.

 Expenses not directly related to VITA

Program.

 Cost of tax preparation software.



Establishing a VITA Site: How and Why

29

Presentation: Summer 2008

Evaluation Criteria

Strength of program standards

Geographic coverage

Prior performance in IRS volunteer program

Ability to partner or collaborate with multiple

organizations

Quality of organization’s sustainability and

growth strategy

Quality control process

Infrastructure to measure program

effectiveness

Establishing a VITA Site: How and Why

30

Presentation: Summer 2008

Selection Process

Three tier review process:

1. Initial review by the grant office.

2. IRS Ranking Panel will rank score the applications

based on:

– Background narrative

– Internal data reports

– Applicants program plan

– Geographic diversity

3. Final approval by the Director of Stakeholder,

Partnership, Education, and Communication (SPEC).



Establishing a VITA Site: How and Why

31

Presentation: Summer 2008

VITA Grant Program

Key Dates – 2008 Funding

Application Accepted 7/1/2008-9/2/2008

Application Deadline 9/2/2008

Review and Ranking 9/2/2008-10/3/2008

Notification to Recipients 10/30/2008

Funds Available for Draw 12/2008

Mid-Year Grantee Report 4/30/2009

Annual Grantee Report 9/30/2009



Establishing a VITA Site: How and Why

32

Presentation: Summer 2008

Contact the IRS Directly







For inquiries about the VITA Grant Program, email

IRS staff at:



Grant.Program.Office@irs.gov









Establishing a VITA Site: How and Why

33

Presentation: Summer 2008

To obtain an IRS VITA Grant Application via:





 Internet: www.irs.gov

use keyword “Community Network”

 Telephone: 1-800-829-1040 (toll free)

 E-mail: Grant.Program.Office@irs.gov

 Mail: Grant Program Office 401 West Peachtree

Street, NW, mail stop 420-D, Atlanta, GA 30308

 Grants.gov website: www.grants.gov









Establishing a VITA Site: How and Why

34

Presentation: Summer 2008

NCUA Resources



NCUA’s Community Development Revolving

Loan Fund Program VITA Grant Program

provides financial assistance for eligible low-

income designated credit unions wishing to

offer VITA services to their members and

community. For more information, visit the

NCUA’s website at:

http://www.ncua.gov/Resources/CreditUnionDevelo

pment/Files/Programs/Grants/2009/NCUA6052.pdf

Establishing a VITA Site: How and Why

35

Presentation: Summer 2008

NCUA Resources



 For inquiries about this presentation:

Webcast@ncua.gov

 To learn about additional resources for credit

unions visit:

http://ncua.gov/Resources/CreditUnionDevelopment

/ResourceConnection/index.aspx

 To learn about NCUA’s VITA Grants visit:

http://www.ncua.gov/Resources/CreditUnionDevelo

pment/Files/Programs/Grants/2009/NCUA6052.pdf







Establishing a VITA Site: How and Why

36

Presentation: Summer 2008


Share This Document


Related docs
Other docs by 837dc4f1ea930e...
Chapter 28 - Bond Coverage
Views: 20  |  Downloads: 0
April 2002
Views: 16  |  Downloads: 1
(OIG-06-09)
Views: 7  |  Downloads: 0
MEMBER’S SHARES AND EQUITY
Views: 18  |  Downloads: 0
NCUA Newsletter October
Views: 79  |  Downloads: 0
SummaryReport of NIH Inclusion Data - FY2005
Views: 2  |  Downloads: 0
PI Aging Simulation Model
Views: 8  |  Downloads: 0
Brochure Expansion Across America
Views: 3  |  Downloads: 0
Guidelines Review Criteria at a Glance
Views: 2  |  Downloads: 0
by registering with docstoc.com you agree to our
privacy policy

You are almost ready to download!

You are almost ready to download!