VITA Sites: Boost Tax Time Savings with America Saves

Tax season is one of the most impactful times of the year to encourage individuals and families to save. For many, their tax refund represents the largest lump sum of money they’ll receive all year, making it a unique opportunity to inspire financial action.

 

Volunteer Income Tax Assistance (VITA) sites play a crucial role in empowering taxpayers to make the most of their refunds, and America Saves is here to help.

With our free resources, tools, and guidance, VITA sites can implement tax-time savings initiatives to help taxpayers start or grow their savings, reduce financial stress, and build financial security. Here’s how your VITA site can leverage America Saves to promote savings this tax season.

America Saves Resources for VITA Sites

America Saves offers a variety of free resources to make it easy for VITA sites to integrate savings conversations and tools into their services:

  1. Tax Time Toolkit: This all-in-one guide provides ready-to-use materials, resources, and tools for promoting savings including social media conversation starters and graphics, as well as tips to help volunteers discuss savings with taxpayers.
  2. America Saves Pledge: Encourage taxpayers to commit to saving a portion of their refund by taking the America Saves Pledge. This simple, online pledge helps savers identify their goals and provides ongoing support through tips, tools, and reminders.
  3. Savings Success Stories: Share real-life stories of individuals who have successfully saved during tax time to inspire and motivate taxpayers.
  4. Resources for Volunteers: Use the America Saves Resource Center to equip your team with the knowledge and confidence to talk about savings during tax preparation.

All of these resources are free and accessible America Saves Tax Time Toolkit.

Implementing a Tax Time Savings Program at Your VITA Site

Here’s a step-by-step guide to using America Saves resources to launch a successful tax-time savings program:

  1. Begin Early and During Intake
    • Start savings conversations as soon as taxpayers contact or arrive at your site. During intake, ask questions like:
      • “Do you have any savings goals this year?”
      • “Would you like to save part of your refund to build an emergency fund or pay down debt?”
  2. Promote the America Saves Pledge
    • Encourage taxpayers to take the America Saves Pledge to commit to saving a specific portion of their refund. Make the pledge easily accessible by setting up laptops, tablets, or QR codes in your waiting area.
  3. Highlight the Benefits of IRS Form 8888
    • Educate taxpayers on how to use IRS Form 8888 to split their refunds into multiple accounts, such as savings or retirement.
  4. Leverage the America Saves Tax Time Toolkit
    • Transform your VITA site into a savings-focused environment. Utilize the resources in the toolkit to create a welcoming atmosphere that encourages conversations about saving and inspires taxpayers to take action.
  5. Provide Ongoing Support
    • Direct taxpayers to America Saves for additional resources, including budgeting tools, savings tips, and follow-up support tailored to their goals.

Tips for Success

  • Train Your Team: Equip your volunteers with America Saves Resources & Tools to ensure they feel confident discussing savings with taxpayers.
  • Make It Personal: Tailor savings conversations to each taxpayer’s unique goals and circumstances. A personalized approach increases the likelihood of engagement.
  • Celebrate Wins: Acknowledge and celebrate savers on-site. A simple “Great choice!” can go a long way in encouraging positive financial behavior.
  • Collaborate Locally: Partner with nearby financial institutions to offer FDIC- or NCUA-insured accounts that taxpayers can use to deposit their refunds.

Start Planning Now

The earlier you incorporate savings into your tax preparation services, the greater the impact you can make. By promoting savings at intake and using America Saves resources, your VITA site can empower taxpayers to build financial security and take control of their futures.

Visit the America Saves Tax Time Toolkit to access our free resources and start planning your tax-time savings program today. Let’s work together to make this tax season the beginning of a brighter financial future for the communities you serve!

CHECK OUT OTHER SAVINGS JOURNEYS FROM SAVERS JUST LIKE YOU

SHARE YOUR SAVINGS TIP OR STORY WITH US

If we feature you in our newsletter, you get $50.

You May Also Be Interested In...

Take the America Saves Pledge

Make a pledge to yourself and create a simple savings plan that works.

Connect to a Campaign

Connect with a local America Saves campaign for one-on-one help and to learn more about savings initiatives and events in your area.

Sign-up for ASAW

America Save at Work is a hub of information and resources to help employers promote financial wellness for their employees.

Partner News & Updates

Join the America Saves email list to receive information about engaging content and events throughout the year.