North Carolina’s State Employees’ Credit Union (SECU) has announced a new initiative to provide free income tax preparation. This will be available at all 217 branch locations statewide.
In partnership with the IRS VITA program, SECU will provide free income tax preparation and electronic filing. Members may even get a refund anticipation loan at an APR of 12%, much lower than the estimated 700% APR charged by leading tax filing retailers.
While SECU is technically only announcing the program to members, it is open to members of the general public. The qualification limits are set by the IRS. Any household earning $40,000 or less is eligible for free income tax preparation and electronic filing.
Nonmembers may take advantage of the service at one of the SECU branches. However, nonmembers are encouraged to visit one of the other VITA providers.
To find the nearest location, call 2-1-1 from any land line. In some rural areas, you may call the IRS at 800-829-1040 and request information on the nearest VITA site.
SECU has started a trend toward greater member benefits at credit unions. Other credit unions have taken note and are making plans to join VITA the following tax season.
Tags: credit union tax preparation, free income tax preparation
Wake County residents have additional free tax providers through the IRS VITA program and AARP’s Tax Aide program.
This Wake EITC Coalition has numerous sites located throughout Wake County. For more information, visit http://blog.stopccdebt.com/wake-eitc-coalition-formed/ or call 2-1-1.