Earned Income Tax Credit

Many working people don’t file tax returns because they don’t owe any taxes.  But, if you're a working person, you may want to think about filing a tax return.  If you do, you may be able receive a refund from the government under the Earned Income Tax Credit (EITC) Program, even if you don’t owe taxes. These EITC credits average $1,400 per household.   

For more information on receiving an earned income tax credit, please contact Laura O’Keefe, Director, Hartford Asset Building Collaborative 860-236-3617, ext. 113, or laurao@co-opportunity.org.

Save even more by letting our partners in the Hartford Asset Building Collaborative, prepare your taxes for FREE (see below).   There are ten different Free Tax Preparation Sites throughout Hartford.  Other ways Co-opportunity can help you achieve greater financial success include financial assistance, financial education, and helping you establish relationships with banks and credit unions.

Free Tax Preparation Tax Sites:

Click for a list of free tax preparation locations or download the list either as an
Excel spreadsheet, or as a PDF document.

Hartford Asset Building Collaborative:

Co-Opportunity is the lead agency for the Hartford Asset Building Collaborative (HABC), a consortium of community-based organizations, financial institutions and other private funders founded in 2000.  HABC manages 120 individual development accounts (IDAs) for adults and 100 for youth.  (IDAs are matched savings accounts available to income eligible individuals that are restricted to high return investments including buying a first home, education and new or expanded business development.)   In addition to providing case management services to IDA participants, Co-Opportunity provides financial literacy training and homebuyer education to all IDA programs in greater Hartford.

In 2005 HABC assumed management of the city-wide Volunteer Income Tax Assistance and Earned Income Tax Credit campaign.  Led by Hartford Mayor Eddie A. Perez, the 2006 campaign posted the highest increase in taxpayers claiming the EITC among the nations 122 largest cities.  Nearly 3500 residents filed their taxes at the campaigns 14 free tax centers, a 25% increase in filers over the prior year.  The campaign returned $1.8 million in EITC credits to residents and over $5 million in other credits and refunds.  In addition, filers saved an estimated $400,000 in tax preparation fees.  The centers were staffed by 125 volunteers.

Individual Development Accounts (IDAs)

Individual Development Accounts, or IDA’s, supplement your own savings, by helping you Earn Match Money For Every $1 You Save.  Through Co-opportunity’s IDA program: 

• We will match up to $2,000 that you save for a home, education, or to start a business. 
• Eligibility for IDA’s changes slightly each year and depends on household size. For a good rule of thumb - families of four that make less than approximately $40,000 and individuals who make less than $18,000 are generally eligible.  Matches start at $2 for every dollar saved, and can go as high as $3 per dollar saved. 
• Counselors help you create a savings plan and teach you how to change your spending patterns.
• For more information on IDA’s, please contact Laura O’Keefe, Director, Hartford Asset Building Collaborative 860-236-3617, ext. 100, or info@co-opportunity.org.

Other ways Co-opportunity can help you achieve greater financial success include financial education, helping you establish relationships with banks and credit unions, and free tax preparation in partnership with the Hartford Asset Building Collaborative.

Major funding from the Annie E. Casey Foundation’s Hartford Making Connections Initiative, the Hartford Foundation for Public Giving, the United Way of the Capital Area, and the U.S. Department of Health & Human Services.