KeyBank Offers Free Tax Return Prep in 10 Metro Areas on February 7

KeyBank Offers Free Tax Return Prep in 10 Metro Areas on February 7

Tenth Annual Super Refund Saturday Event Includes Earned Income Tax Credit Access

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Tuesday, February 3, 2015 - 8:30am

CAMPAIGN: Serving the Underserved

CONTENT: Press Release

CLEVELAND, Ohio, February 3, 2015 /3BL Media/ – On February 7, 2015, KeyBank will partner with nonprofit organizations in 10 metropolitan areas across the United States to host its tenth annual Super Refund Saturday—a one-day event during which KeyBank employees provide free, individual federal income tax preparation sessions to local low- and moderate-income wage earners, helping them determine their eligibility and apply for the Earned Income Tax Credit (EITC). In addition to the Super Refund Saturday event, KeyBank will partner and provide volunteers at six additional tax assistance sites throughout the 2015 tax season.

"At its roots, Super Refund Saturday is about helping hardworking individuals who are trying to make ends meet,” says Key’s Head of Corporate Responsibility Bruce Murphy. “For many households, every dollar counts, so paying for tax preparation services is not a financial option. We’re offering free, comprehensive, tax preparation, to help families stay financially responsible and discover and secure dollars that are rightly theirs.”

Super Refund Saturday will be held in the following 10 metropolitan areas on February 7: Cleveland, OH; Dayton, OH; Akron, OH; Toledo, OH; Indianapolis, IN; South Bend; IN; Denver, CO; Portland, ME; Albany, NY; and Tacoma, WA. Seasonal support of regional tax centers will be offered in Buffalo, NY; Syracuse, NY; Hudson Valley, NY; Burlington, VT; Portland, OR; Tacoma, WA; and Columbus, OH. To about learn specific locations and times, participants can call 1-800-KEY2YOU. 

The EITC, which was originally enacted in 1975, is now one of the largest anti-poverty tools in the United States. It is a refundable tax credit for low- to moderate-income individuals and families who work and have qualifying children. Qualifying children must be under 18 years of age, unless in college or disabled, and must be related by blood, marriage or official decree, such as adoption. They must also live with the taxpayer claiming the EITC within the U.S. for at least half the year. Receiving the EITC helps families in need reduce their financial burden; however, taxpayers must file an income tax return to receive it, even if they don’t earn enough to pay taxes.

To qualify for the EITC, earned income must be less than:

  • $46,997 ($52,427 married filing jointly) with three or more qualifying children
  • $43,756 ($49,186 married filing jointly) with two qualifying children
  • $38,511 ($43,941 married filing jointly) with one qualifying child
  • $14,590 ($20,020 married filing jointly) with no qualifying children

The maximum Earned Income Tax Credit a tax filer can receive is:

  • $6,143 with three or more qualifying children
  • $5,460 with two qualifying children
  • $3,305 with one qualifying child
  • $496 with no qualifying children

For information about the EITC, visit the IRS’s website at http://www.irs.gov/Individuals/EITC,-Earned-Income-Tax-Credit,-Questions-and-Answers.

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

  • Valid photo ID
  • Social Security card for themselves and each dependent
  • W-2 Forms (reporting full-time wages)
  • Previous year’s tax return
  • 1099 Forms (reporting part-time work and interest income), if applicable
  • Unemployment forms, if applicable
  • Proof of childcare payments
  • Other IRS forms, as appropriate
  • Bank account information and bank routing number

Last year’s Super Refund Saturday event helped more than 1,100 families in 14 metro areas; processed $2.9 million in refunds (federal and state) for free; returned approximately $1.4 million in EITC to families that needed it most; and provided more than $37,000 via the KeyBank Foundation to support nonprofit partners who helped execute the day.

“We are very proud of the work we did with last year’s Super Refund Saturday event and hope to make an impact on the lives of the hardworking individuals in our communities again this year,” says Murphy. “It is our commitment to enhance each community we serve—this event helps us fulfill it.”

About KeyCorp
Key traces its history back more than 160 years and is headquartered in Cleveland, Ohio. One of the nation's largest bank-based financial services companies, Key has assets of approximately $93.8 billion. Key (NYSE:KEY) provides deposit, lending, cash management and investment services to individuals, small and medium-sized business under the name KeyBank National Association. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name.

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Contact

Marylee Gotch
+1 (216) 471-2880
KeyBank