America Saves Week Starts February 27 and Local Nonprofit Offers Low- and Moderate-Income Individuals Free Tax Filing and Ideas for How They Can Save Some of Their Tax Refund

America Saves Week Starts February 27 and Local Nonprofit Offers Low- and Moderate-Income Individuals Free Tax Filing and Ideas for How They Can Save Some of Their Tax Refund

One in three Americans has no savings, according to Pew Research.

Media Contacts:
Cathy Kennedy, Cathryn Kennedy Consulting - 612-309-3951
Pam McCarthy-Kern, Cathryn Kennedy Consulting - 612-360-0647
Stacy Opitz, Prepare + Prosper - 651-262-2162

Saint Paul, MINN. (Feb. 17, 2017)  – As part of America Saves Week 2017, scheduled for February 27 – March 4, 2017, Prepare + Prosper is encouraging Minnesotans to save a portion of their tax refund when they file their tax return(s).

“Tax time can be one of the most important money moments of the year for low- and moderate-income families,” said Tracy Fischman, Prepare + Prosper executive director. “For those getting a refund, it can add up to 30% of their annual income, which creates an opportunity to improve financial footing by saving some for the future.”

According to Pew Charitable Trusts, one in three Americans has no savings. Prepare + Prosper is helping low- and moderate-income individuals and families save a portion of their tax refund by offering free financial services and products, like savings accounts, at eight locations in Minneapolis, St. Paul, Bloomington, and Hopkins. 

Throughout the week until April 15, eligible taxpayers can file their taxes for free and get access to Prepare + Prosper’s free financial services, which includes opening a savings account with local credit unions, starting a myRA retirement account, purchasing a U.S. savings bond, or pulling a credit report. Based in St. Paul, Prepare + Prosper is open year-round and offers audit assistance.

In 2016, 575 volunteers prepared taxes for 13,227 taxpayers who received more than $24.7 million in refunds and; 1,231 of those taxpayers committed to saving $1.9 million of their refunds.

Details
Prepare + Prosper offers free tax preparation to individuals who make $35,000 or less and families who make $55,000 or less. Appointments are made by calling 651-287-0187 or online at www.prepareandprosper.org. At the walk-in sites on Tuesdays, Wednesdays and Thursdays, arrive at 5:30 p.m. to have an equal chance to being served and 8:30 a.m. on Saturdays.

Tuesday, Thursday, and Saturday

Prepare + Prosper main office: 2610 University Avenue W., St. Paul (appointment)

Minneapolis Urban League: 2100 Plymouth Avenue N., Minneapolis (appointment)

Resource West, 1011 1st St. S., Hopkins (appointment)

Eastside Financial Center: 965 Payne Avenue, St. Paul (walk-in)

Hallie Q. Brown Community Center: 270 N. Kent St., St. Paul (walk-in)

East Side Neighborhood Services: 1700 2nd St. NE, Minneapolis (walk-in)

Hope Community Center: 611 E. Franklin Avenue, Minneapolis (walk-in)

Creekside Community Center: 9801 Penn Ave. S., Bloomington (walk-in)

Wednesday

Prepare + Prosper main office: 2610 University Avenue W., St. Paul (appointment)

Resource West, 1011 1st St. S., Hopkins (appointment)

Eastside Financial Center: 965 Payne Avenue, St. Paul (walk-in)

About Prepare + Prosper: Prepare + Prosper is a nonprofit focused on financial capability for low-income households. It provides free tax preparation and access to financial services and products; builds the capacity of other organizations providing these services; and works to advance policies and practices that directly benefit the people it serves. In 2016, 575 volunteers prepared taxes for 13,227 taxpayers who received $24.7 million in refunds; 1,231 of those taxpayers committed to saving $1.9 million of their refunds.

About America Saves Week: America Saves Week is coordinated by America Saves and the America Savings Education Council.  The Week is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status. Learn more at AmericaSavesWeek.org

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