Free tax preparation contributes directly to food security

[image credit: CBS Local]
[image credit: CBS Local]

Food insecurity rises after post-holiday slump

Donations and volunteer hours surge between Thanksgiving and Christmas, before dying down in January. Unfortunately, the first months of the year can be the worst for food insecurity. Many local residents may be struggling to put food on the table, but aren’t aware that they qualify for a number of tax breaks and credits.

Solution: free tax-preparation services put money in people’s pockets

recent study from the Federal Reserve Bank of Chicago and Northwestern University found that low-income people purchase more, and healthier, food in the months immediately after receiving their tax returns. Some food banks partner with CPAs to offer free tax preparation services to local residents. These services are often held either at the food bank itself, or a local library. In some areas, city governments or local banks may be willing to contribute a grant to help offset the cost of the program. For example, in New York City, a $1.7 million grant

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Article by: Dave

Dave Cannon is a Seattle-based entrepreneur and consultant to nonprofits and small businesses. He loves Thai food and takes terrible photographs. You can follow him on Linkedin.
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