FAMILY DEVELOPMENT

Individual Development Accounts IDA
Volunteer Income-Tax Assistance:(VITA)

Individual Development Accounts (IDA)

Individual Development Accounts (IDAs) are matched savings accounts that enable low-income families to save, build assets, and enter the financial mainstream.   IDAs reward the monthly savings of working-poor families who are building towards purchasing an asset – most commonly buying their first home, paying for post-secondary education, or starting a small business.  IDAs make it possible for low-income families to build the financial assets they need to achieve the American Dream. To learn more about this program visit this link IDA.

.Volunteer Income-Tax Assistance: (VITA)

Community Action Partnership of San Bernardino County operates a volunteer income tax assistance (VITA) program as an ideal partner to the IDA Program.  Together these two programs comprise an Asset Development component for CAPSBC.  VITA offers free tax preparation for low-income wage earners.  Volunteer tax assistors are trained and certified by the IRS to prepare and e-file tax returns for qualified clients.  VITA volunteers help to educate clients regarding the Earned Income Tax Credit (EITC), Child Tax Credit (CTC), and other tax credits for which they may be eligible.  VITA helps to recoup hundreds of thousands of dollars in refunds that are left on the table each year because taxpayers do not know they are eligible to claim them.  During tax preparation sessions, clients are informed about the IDA Program and are encouraged to enroll, using a portion of their tax refund as an opening deposit.  VITA is good for the community as well because refunds that are put back into the local economy will help to stimulate that economy.

CAPSBC opened its Volunteer Income Tax Assistance (VITA) site for 2010 on February 1, and will operate through April 15, 2010.  The VITA site prepares basic tax returns for households with an annual income of $50,000 or below. 

Many people will qualify for the Earned Income Tax Credit (EITC) for the first time this year. Anyone with income under $48,000 from wages, self-employment or farming in 2009, should see if they qualify.  The new maximum credit is $5,657 for a family with three or more children; $5,028 for a family with two children; $3,043 for a family with one child and $457 if there are no children.  CAPSBC’s VITA site is open from 9:00 a.m. to 3:30 p.m. Monday through Thursday, BY APPOINTMENT ONLY. 

Become a VITA Volunteer

For more information, contact us:

VITA (909) 723-1560, IDA (909) 723-1571
Fax (909) 723-1569
Monday- Friday 8:00 a.m. to 5:00 p.m

696 S. Tippecanoe Ave, San Bernardino, CA 92415-0610

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