In addition to preparing and filing tax returns, Tax Help New Mexico volunteers provide information about provisions of the tax code such as the Earned Income Tax Credit (EITC)—a federal credit worth up to $6,143 for qualified low-to-moderate income workers. By ensuring that residents claim all of the tax refunds and credits they are entitled to, Tax Help New Mexico volunteers are helping to boost the state’s overall economy.
Benefits to the Economy
In 2013, $20 million was returned to New Mexico’s economy through CNM’s TAX HELP New Mexico. Experts estimate that money returned to the economy from tax refunds and credits is turned over two-to-three times.
Benefits to Low-Income and Elderly Residents
Tax Help New Mexico serves the state’s low-income and elderly residents by: Providing free tax return preparation Helping citizens claim all of the tax refunds and credits to which they are entitled.
Benefits to High School Students
Tax Help New Mexico also offers exceptionally qualified high school students the opportunity to volunteer for the program. Those students earn college credit for their volunteer work while also learning about the value of serving their community. Click here to learn more about becoming a Tax Help student volunteer.
Benefits to CNM Students
The CNM students who serve as volunteer tax preparers gain valuable work experience. These students gain the necessary knowledge to earn Internal Revenue Service (IRS) certification as tax preparers, a designation that many employers look for when hiring. A number of Tax Help New Mexico volunteers have gone on to work for the IRS and the New Mexico Taxation and Revenue Department, launching careers that allow them to contribute even more to the state’s economy.