With tax season right around the corner, employees at U.S. Bank stand ready to help low- to moderate-income families in the Twin Cities with their taxes.
Beginning in January through the end of the 2012 tax season, 67 U.S. Bank employees will volunteer three to four hours of their time per week to assist AccountAbility Minnesota, a local nonprofit that provides free tax preparation and financial services to qualifying individuals. The volunteers will serve at the 12 Twin Cities tax clinics operated by AccountAbility Minnesota.
The number of U.S. Bank volunteers who have pledged their time for the 2012 tax season represents a 76 percent increase over the number of volunteers from the bank last year and signifies a growing commitment to AccountAbility Minnesota and the Twin Cities community.
“As the Twin Cities’ hometown bank, we are thrilled to partner with AccountAbility Minnesota again this year,” said Elliot Jaffee, Twin Cities Market President for U.S. Bank. In 2011, U.S. Bank AccountAbility Minnesota volunteers donated nearly 1,110 hours of tax preparation and tax clinic assistance and helped prepare more than 1,400 returns for low- to moderate-income individuals. Overall in 2011, AccountAbility Minnesota served nearly 12,000 taxpayers helping them to claim $22.3 million in refunds. “Through the work of our volunteers at tax time, we help low-income families significantly boost their income, sometimes by 40%, and we partner with financial institutions like U.S. Bank to connect those families to financial products and services that enable them to use part of their refunds to save, and ultimately build economic security.”
Together U.S. Bank and AccountAbility Minnesota opened 200 savings accounts for un- or under-banked consumers during the 2011 tax season.