Free Online Tax Return Self-Preparation
Any household with a simple tax return can file federal and state taxes online absolutely free using MyFreeTaxes.com. If you need technical or tax-law assistance while filing, live chat and phone support is available from IRS-certified volunteers.
Additional IRS FreeFile software options are available to qualifying households. Check the requirements of each program to make sure that you can file for free before starting your return. MyFreeTaxes.com and IRS FreeFile software is available annually from mid-January through October 15. Click here for more information on how to choose the right self-prep software option for you.
Volunteer Income Tax Assistance (VITA)
Arkansas Asset Builders helped households in our community to claim over $725,000 in federal and state tax refunds in 2019 and 2020. This included $175,000 in Earned Income Tax Credits (EITC) and $185,000 in child/dependent tax credits—money that especially helps parents and families make ends meet. In 2020, we also helped more than a dozen taxpayers access an economic stimulus payment who otherwise may not have received one.
By providing free tax preparation, we help our clients avoid costly tax preparation fees and predatory tax-time financial products that can reduce the value of a family’s tax return by hundreds of dollars. In 2020 alone, we estimate that we saved our clients $250 per tax return filed by our volunteers—a total of nearly $75,000 in fees avoided.
During the tax season, we partner with SaveYourRefund to offer additional incentives for our clients to save a portion of their refund, including the chance at one of two $10,000 grand prizes. You could be a winner if you set aside $50 or more from your refund directly into a savings account!
Arkansas Asset Builders’ volunteer tax assistance is currently unavailable as we prepare for the upcoming filing season. We anticipate opening our tax site again in late January 2021, with location, hours, and services TBD. Sign up for our e-mail list or text TAXES to 797979 to get updates when available.
Our free tax preparation services are provided by IRS-certified volunteers and are available to qualifying individuals and families whose annual income is less than $56,000. For details about our hours of operation, program requirements, or what to bring to the tax site, click here!
Financial Literacy Programs
We are currently developing financial literacy programs that will meet the needs of our local community. Possible topics include: setting financial goals, developing and managing a spending plan, choosing financial products and services, understanding credit, managing debt, saving for college, understanding the basics of investing, and saving for the achievement of a financial goal. Please contact us with suggestions for topics of interest to you.