January 26, 2008Contacts: Brad Moore
Director of Communications
Central New Mexico Community College
505-224-4423
Jennifer McDonald
Communications Manager
505-224-4673
TAX HELP New Mexico Offers Free Tax Preparation Services
Central New Mexico Community College’s TAX HELP New Mexico is kicking off its 33rd tax season by once again providing free tax preparation service for those whose annual household income is $40,000 or less and those who are 65 and older.
TAX HELP New Mexico, which began as a way to provide accounting students with work experience while serving a community need, now has 48 sites statewide ready to file taxes electronically. The sites – which will start opening on Jan. 28 – are staffed by volunteers who attend training sessions and pass an IRS certification exam.
TAX HELP New Mexico volunteers are trained to help taxpayers take advantage of tax credits, including the Earned Income Tax Credit and the Child Tax Credit. The EITC is one of the most under-used tax credits, but one that can make a major difference for working families. Thousands of eligible New Mexicans also fail to claim the Child Tax Credit.
In 2007, TAX HELP New Mexico served 25,000 customers and returned more than $20 million to the New Mexico economy. Many more millions of dollars in tax exemptions, however, go unclaimed by New Mexicans every year. More than 400,000 New Mexicans are eligible for the TAX HELP New Mexico program, which is a valuable community resource this time of year and returns are typically in hand within two weeks of filing. Too many New Mexicans have their returns depleted by “Payday Loan” lenders.
Beginning in mid-March, the service is also available to those who haven’t filed taxes for up to three years.
The IRS has praised TAX HELP New Mexico, which it uses as a nationwide model for other areas seeking to implement similar programs. It’s considered one of the most cost-effective programs in the country for delivering this kind of service. Four years ago, CNM was able to expand the program statewide thanks to many partnerships with other community colleges and community-driven organizations.
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