KeyBank to partner with local agencies to help eligible families and individuals file for the Earned Income Tax Credit
(SYRACUSE) – February 16, 2023 – On Saturday February 25th, 2023, KeyBank will partner with PEACE, Inc. and the Beachump Branch Library to host its annual Super Refund Saturday event. As part of Key’s commitment to celebrate and honor Black History Month with community service projects and events, KeyBank employees will work alongside volunteers from various organizations 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).
This Super Refund Saturday event will be held from 9:00 a.m. to 1:00 p.m. Participants should arrive at the KeyBank branch located at 2209 South Salina Street, Syracuse, NY 13205. They will then proceed to the Beachump Branch Library, located across the street at 2111 South Salina Street – Syracuse, NY 13205.
All tax filers are welcome to attend the event and the individual does not have to be a KeyBank customer to participate.
“We are once again excited to work with PEACE, Inc. and the Beachump Branch Library to support our neighbors with free tax preparation services,” said Stephen Fournier, KeyBank Central New York Market President. ”Super Refund Saturday is a signature annual event that is central to KeyBank’s purpose of helping the communities we serve thrive.”
The Earned Income Tax Credit 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:
- $53,057 ($59,187 if married and filing jointly) with three or more qualifying children
- $49,399 ($55,529 if married and filing jointly) with two or more qualifying children
- $43,492 ($49,622 if married and filing jointly) with one or more qualifying children
- $16,480 ($22,610 if married and filing jointly) with no qualifying children
In addition, income tax return filers need to meet these qualifications for free tax preparation:
- Total household income less than $60,000
- Investment income less than $3,500
- Be a resident of Onondaga County
- Have income from wages, self-employment, pension or government benefits
- Do not own rental property
- Have not declared bankruptcy
- Have not received military pay
- If self-employed, do not have employees or inventory, did not deduct your home as an expense and did not have a business loss
Filers should also 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 childcare 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. To file taxes electronically on a married-filing-joint tax return, both spouses must be present to sign the required forms.
KeyBank’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $189.8 billion at December 31, 2022. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. 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. For more information, visit KeyBank | Banking, Credit Cards, Mortgages, and Loans
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