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2010 Fast Facts

ACCOUNTING  AID  SOCIETY'S  ECONOMIC  BENEFITS TO  SOUTHEAST  MICHIGAN  IN 2010

Tax Refunds to More Than 17,260 Wayne, Oakland, Macomb and Livingston
County Residents. . . . . . . . . . . . . . . . . . . . . . . . . . .     . . . . . .  $21.2 million 
(Individuals who made $25,000 or less a year
and families with annual incomes of $50,000 or less)

Multiplier Effect on Local Economy for Each Dollar Returned .   . .   $10.6 million
(1.5 times)

Savings in Lieu of Using Commercial Preparers and Refund Anticipation
Loans  (Approximately $300 savings per client). . . . . . . . . . . . . . . . . . . . . $5.1 million

TOTAL ECONOMIC BENEFITS TO SOUTHEAST MICHIGAN IN 2010 . . . . . .... $36.9 million

    
  
                                                         2010 TAX SEASON FAST FACTS

•   More than 17,260 low and middle income southeast Michigan families received
    income tax refunds and tax credits through Accounting Aid Society's free tax assistance program.
  
  
•  Tax refunds and credits totaled $21.2 million.
  
  
•  Accounting Aid returned more than $6.2 million in state and federal Earned Income Tax Credits to our clients.
  
  
•  799 volunteers donated over 15,800 hours this tax season.
  
  
• Accounting Aid provides more than 80% of free Volunteer Income Tax Assistance
  (VITA) services in southeast Michigan and 30% of all VITA services in the state. Since 1976, Accounting Aid has returned more than $191 million to low and moderate income residents in Wayne, Oakland, Macomb and Livingston counties, and in turn into our state's economy.
  
  
• As the IRS-designated VITA subject matter expert for the southeast region, Accounting Aid supports other VITA programs with technical support and volunteer training.
  
  
•  In addition to tax assistance, Accounting Aid links tax clients to asset-building resources such as utility payment assistance, homebuyer's counseling, credit reports and counseling, household budgeting and education financial aid application, among others.
  
  
•  Accounting Aid Society represents one of the longest standing collaborations in
   southeast Michigan, with with more than 100 organizations and nearly 800 volunteers supporting the   delivery of free tax preparation services each year.
   
  
•  An important cornerstone of the tax program is the Adopt-A-Site sponsorship, in which colleagues sign up as a group for training and volunteering. Our 2010 groups included Baker College, Baker-Tilly/Virchow-Krause, Blue Cross Blue Shield of Michigan, Brasscraft, Inc.,Chrysler Asian Network, Clark Hill, Comerica, Thomas  M. Cooley Law School, DTE Energy, GM Hispanic Initiative Team, GM Tech Center, GM JumpStart,Genisys Credit Union,KPMG LLP,Godfrey Hammel,Danneels & Company, Masco Corporation, Michigan Association of Certified Public Accountants, National Association of Black Accountants, Oakland Community College, Oakland University, Plante & Moran, PLLC, PricewaterhouseCoopers LLP, Private Bank, University of Michigan-Dearborn -Beta Alpha Psi.
  
  
• For those whose primary language is not English, regardless of income, we  provide free information about tax rights and responsibilities through our Low Income Tax Clinic (LITC) funded by the IRS. In addition to answering individual questions, we are able to conduct presentations and workshops on federal tax issues including Individual Tax Identification Numbers, filing requirements, and credits such as the Child Tax Credit and the Earned Income Tax Credit.
  
  
  
• Assistance for low-income taxpayers in resolving tax disputes with the IRS is also available as part of our LITC services through a partnership between Accounting Aid Society and the Legal Aid and Defender Association. Dispute assistance included audits, Earned Income Credit denials, and collection liens and levies. We can also assist in obtaining innocent and injured spouse relief, installment agreements, and offers in compromise.