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CUs reap 334250 in grants to help tax prep
WASHINGTON (11/12/08)—Credit unions were again included in the matching funds granted recently by the Internal Revenue Service (IRS) to support its Volunteer Income Tax Assistance (VITA) program. Three credit union organizations received a total of $334,250 of the $8 million IRS gave out in matching VITA grants. State Employees CU, a $15 billion-asset, Raleigh, N.C., credit union, received a $122,850 grant. El Paso (Tex.) Credit Union HOAP, Inc., described by the Texas Department of Housing and Community Affairs as a nonprofit corporation formed by eight area credit unions promoting homeownership and homebuyer education, received $86,400. The National Federation of Community Development Credit Unions was awarded $125,000. VITA is an IRS program that helps low- and moderate-income taxpayers complete their annual tax returns at no cost. Credit unions and community organizations awarded grants receive IRS-provided training in the preparation of basic tax returns and establishment of tax preparation sites. Questions about the program may be addressed to the Grant Program at 404-338-7894 (not toll-free) or by e-mail at Grant.Program.Office@irs.gov. The National Credit Union Administration (NCUA) has been working with the IRS to prepare a video to be used to encourage credit unions to offer VITA services to their membership and communities.
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