The Benefit Bank
The Benefit Bank is a free, counselor-assisted computer program that helps low- and moderate-income ($56,000 or less) individuals and families file for tax credits and benefits for which they are eligible.
Each year, millions of individuals and families fail to receive the money and benefits due to them and -- as a result -- more than $35 billion in government benefits go unclaimed annually. The Benefit Bank™ (TBB) helps to connect people to these resources. TBB is a program of Solutions for Progress, Inc., a public policy consulting firm working for social change. The program receives ongoing support from foundations and other funders through the National Council of Churches USA and through the Jewish Council on Public Affairs.
The Benefit Bank Facts & Figures
- 83% of TBB users qualify for the Earned Income Tax Credit (EIC).
- 72% of clients using The Benefit Bank are eligible for Food Stamps.
- The average monthly LIHEAP benefit for TBB clients in 2004 was $173.
- In 2004, TBB connected families with Child Care Subsidies of $4000 per child.
How Does The Benefit Bank Work?
Individuals sit side-by-side with counselors who assist them with entering information into internet-based software. It takes approximately four hours to complete all benefit and tax modules for which they are eligible. Once the client provides all necessary information, The Benefit Bank fills out the application and prints it or the tax return out on their proper forms. It even e-files returns and applications when possible. It is free to all users and free to host organizations.
What Benefits are Available to Individuals and Families?
- File Federal and State Taxes including Earned Income Credit, Child & Dependent Care Credit, Child Tax Credit, Additional Child Tax Credit, Hope & Life Time Learning Education Credit as well as file amended and back taxes up to two years. E-filing is free.
- Apply for Food Stamps, Child Health Insurance Plan (CHIP) including coverage for parents, Child Care Subsidy, Medicaid, Pharmaceutical Coverage for the Elderly, Low Income Home Energy Assistance (LIHEAP) and Voter Registration.
Who is Eligible to Use The Benefit Bank?
The Benefit Bank can be used for tax filing if the household income is $52,000 or less. That limit might be higher for some benefit eligibilities depending on the number of people in a household or the family situation.
Please consider giving a tax free donation to help The Ivins Outreach Center.