KeyBank, Parachute Credit Counseling team to offer free tax preparation services

KeyBank to partner with agencies to help eligible families & individuals file for Earned Income Tax Credit

KeyBank press release 

KeyBank is partnering with Parachute Credit Counseling and the BankOnBuffalo-Niagara Coalition to provide free tax preparation services to those who need it most, helping low- to moderate-income individuals and families determine their eligibility for the Earned Income Tax Credit (EITC).

Volunteers from KeyBank and Parachute will be available at the following locations, days and times:

√ Buffalo Federation of Neighborhood Centers, 415 Monroe St., Buffalo, Saturday, March 28, 10 a.m.-2 p.m.

√ Dunkirk United Way, 626 Central Ave., Saturday, March 28, 10 a.m.-3 p.m.

√ Jamestown Prendergast Library, 509 Cherry St., Saturday, March 28, 10:30 a.m.-4 p.m.

√ Niagara University Glynn Hall, Room 209, 5795 Lewiston Road, Tuesday, March 31, 6-8 p.m.

All tax filers are welcome to attend; the individual does not have to be a KeyBank customer to participate.

“ ‘Super Refund Saturday’ is a signature annual event that is central to KeyBank’s purpose of helping the communities we serve thrive,” said Michael McMahon, KeyBank Buffalo market president. “We are once again excited to work with Parachute to support our neighbors with free tax preparation services.”

The EITC is a benefit for working people with low to moderate income. To qualify, workers and families must meet certain requirements and file a tax return, even if they do not owe any tax or are not required to file. EITC reduces the amount of tax owed and may provide a refund (source: IRS).

Each year, thousands of qualifying Americans do not claim the EITC on their federal income tax returns, meaning billions of dollars in much-needed refunds goes unclaimed. “Super Refund Saturday” is a cost-effective way for tax filers to navigate the potentially confusing tax preparation process and ensure they are getting their full return.

According to the IRS, to qualify for the EITC, earned income must be less than:

√ $61,555 ($68,675 if married and filing jointly), if you have three or more children

√ $57,310 ($64,430 if married and filing jointly), if you have two children

√ $50,434 ($57,554 if married and filing jointly), if you have one child

√ $19,104 ($26,214 if married and filing jointly), if you have no children

**Children must meet certain relationship, age, and residency requirements to qualify

If participating in “Super Refund Saturday,” income tax return filers should bring these documents:

√ State-issued photo ID

√ Social Security card (for you, your spouse, and each child and/or dependent)

√ W-2 forms

√ 1099 forms (interest, earnings as an independent contractor)

√ Unemployment forms (if applicable)

√ Proof of child care payments

√ Other IRS forms as appropriate

√ Last year’s tax return (if available)

√ Bank account and routing number for direct deposit (if applicable)

If filing jointly, please bring all applicable documents for you and your spouse.