Walmart Foundation Tax Preparation Partnership Expects to Yield More Than $1 Billion in Tax Savings for Consumers

The Walmart Foundation, United Way Worldwide, One Economy Corporation and National Disability Institute (NDI) have partnered to bring free tax preparation and filing services to consumers nationwide. The initiative will also help educate consumers, and provide free preparation and filing for the Earned Income Tax Credit (EITC), a federal income tax credit of which many are unaware.

A $4 million grant from the Walmart Foundation will be shared among the program partners and is expected to help return $1 billion in total tax refunds, credits and tax preparation savings. In 2009, a similar effort from the Walmart Foundation helped more than 650,000 people receive tax refunds, credits and tax preparation savings totaling more than $950 million.

"The Walmart Foundation is building on the success of last year's program to again put savings and EITC refunds back in taxpayers' pockets," said Margaret McKenna, president of the Walmart Foundation. "As many continue to feel the impact of the challenging economy, our goal is to establish a more integrated and accessible program that helps Americans live better lives."

"EITC can be a financial boost for working people hit by hard economic times," said Julie Garcia, Director of the IRS Stakeholder Partnerships, Education and Communication division. "One in four eligible taxpayers overlooks the credit and this partnership is helping those who need it most."

Through this effort, a series of activities will take place:

United Way Worldwide will assist Americans who earn less than $49,000 with free tax and EITC filing at 91 community-based tax preparation sites.
Tax-payers earning less than $58,000 per year can take advantage of the MyFreeTaxes.com national tour. Equipped with One Economy's online tax filing technology and IRS-trained tax professionals, the tour will visit 30 communities across the U.S.
The NDI's Real Economic Impact Tour will assist qualifying taxpayers with disabilities who earn $49,000 or less. Funding from the Walmart Foundation allows NDI to expand its disability-inclusive tax assistance programs, including making free tax preparation sites and online tools accessible to disabled filers.
For additional information on United Way tax preparation sites, the MyFreeTaxes.com National Tour, the NDI's Real Economic Impact Tour and eligibility requirements visit www.walmartfoundation.org or www.myfreetaxes.com.