America Saves Partner Resource Packet
Volume 4 Issue 7
Tax Time Savings
November 15th – January 4th
America Saves’ goal is to promote the importance of savings and encourage individuals and families to take financial action. To help the people you serve save more successfully and to promote the importance of savings throughout your footprint, we have put together this resource packet with you in mind. Itcontains a sample article, suggestions for social media content, and tools and resources designed to help you communicate with the public, your audience, and with other organizations.
We encourage you to use this material to:
· Supplement the savings information you already provide to others;
· Encourage individuals to take the America Saves pledge, thereby creating and committing to a basic savings or debt reduction plan and;
· Position your organization as "in front" of the savings message and the need to save.
Look for new packets from America Saves every six to eight weeks. Up next? America Saves Week 2016. The anticipated launch date is January 5, 2015.
We want to hear from you. Please take a moment to complete this four-question survey on the usefulness of this material.
Sample Article
Use this content for your blog, newsletter, email communications, or any other publication.
You can either rewrite the information or use as a guest post.
Saving Just $50 of Your Tax Refund Could Mean Winning Big
As the end of the year approaches, we once again find ourselves dreading the paper pushing and number crunching of tax season. But, let’s not forget the excitement that comes with getting back some of your own hard-earned money in the form of a tax refund. Saving a portion of your tax refund can be a big step toward meeting your savings goals, so it’s no surprise that a 2015 tax season survey found that a majority of those who receive a refund planned to save it.
This tax season, reward yourself for saving some of your refund by entering for a chance to win $25,000 through SaveYourRefund. SaveYourRefund has 101 cash prizes, including 100 weekly prizes of $100 and one grand prize of $25,000. Making smart financial decisions isn’t always easy, but splitting your refund couldn’t be simpler. Follow these quick and easy steps to enter to win in 2016:
· Use Form 8888 to split your refund. Entry to win with SaveYourRefund starts with splitting your refund into savings.
· Save $50 or more of your tax refund. In order to enter, use Form 8888 to save at least $50. There are a number of accounts you can save into including a savings account, a U.S. Treasury Direct account (savings bond), and a myRA retirement account.
· Visit SaveYourRefund.com to enter. You will be automatically eligible to win one of ten $100 prizes that will be given away every week from the start of the contest until the end of tax season.
· Upload a picture here that represents your savings goal or motivation, and you’ll be entered to win the $25,000 grand prize!
Need tax assistance? Take advantage of a Volunteer Income Tax Assistance (VITA) program. VITA programs offer free tax help to those who generally make $53,000 or less, persons with disabilities, the elderly, and limited English speakers.
Get ahead of your financial goals by splitting your tax refund into savings, and reward yourself with SaveYourRefund.
Tammy Greynolds works for America Saves, managed by the nonprofit Consumer Federation of America (CFA), which seeks to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth. Learn more at AmericaSaves.org.
America Saves Twitter Chat:
Join America Saves in an hour-long Twitter chat on our partner packet theme.
Please join us on Tuesday, December 15, 2015 at 3:00 pm ET for an hour-long discussion on the topic and resources discussed throughout this partner packet.
As the end of the year approaches, we once again find ourselves dreading the paper pushing and number crunching of tax season. But, let’s not forget the excitement that comes with getting back some of your own hard-earned money in the form of a tax refund. Saving a portion of your tax refund can be a big step toward meeting your savings goals, so it’s no surprise that a 2015 tax season survey found that a majority of those who receive a refund planned to save it.
Hashtag: #SaveYourRefund
Topic: Making the Most of Tax Time Savings
When: Tuesday, December 15 at 3:00 pm ET
Easy ways to follow the chat: Twubs or tchat.io
Cooperative Extension Twitter Chat:
Join Cooperative Extension in an hour-long Twitter chat on year-end financial planning.
We hope you’ll join @moneyeXtension on Tuesday, December 8, 2015 at 3:00 pm ET.
Join this special Cooperative Extension Twitter chat/Google Hangout to learn end-of-year financial planning tips and suggestions for financial New Year’s resolutions. The sponsor, Cooperative Extension, is the largest adult education network in the world, including dozens of educators with expertise in personal finance.
Guests for #eXchat include Dr. Barbara O’Neill, CFP®, Rutgers University, Dr. Erik Anderson, University of Idaho, Dr. Erica Tobe, Michigan State University, Dr. Elizabeth Kiss, Kansas State University, Dr. Susan Shockey, NIFA-USDA, and Andrew Zumwalt, MS, CFP®, University of Missouri. Bob Bertsch, Web Technology Specialist for North Dakota State University, will serve as moderator.
Hashtag: #eXchat
Topic: Year-End Financial Planning Tips
When: Tuesday, December 8, 2015 at 3:00 pm ET
Easy ways to follow the chat: Twubs or tchat.io
Sample Social Media Posts
Share the following messages with your Facebook & Twitter followers.
#SavingsTipTuesday
Your emergency #savings can help you win big this #tax season w/ @SaveYourRefund. http://ow.ly/UJ8hO @AmericaSaves #SavingsTipTuesday
Get some much needed #debt relief. Apply your refund to your outstanding balance. http://ow.ly/EW8RD @AmericaSaves #SavingsTipTuesday
Earmarking this year’s #tax refund for savings? Enter to win @SaveYourRefund. http://ow.ly/UJ8hO @AmericaSaves #SavingsTipTuesday
Set aside your #tax refund for unexpected repairs or #emergency expenses. http://ow.ly/EWaQ1 @AmericaSaves #SavingsTipTuesday
You could win $25,000 for saving $50 of your tax refund with @SaveYourRefund http://ow.ly/UJ8hO @AmericaSaves #SavingsTipTuesday
Grow your #taxrefund by splitting it into a @myRA_gov #retirement #savings acct. http://ow.ly/UJ8wq @AmericaSaves #SavingsTipTuesday
If you pay for #taxtime help, choose a trustworthy #tax preparer wisely. http://ow.ly/EWeY3 @AmericaSaves #SavingsTipTuesday
#SavingsFactFriday
Each year, about 75% of Americans who file #tax returns receive a refund. http://ow.ly/EWggh @AmericaSaves #SavingsFactFriday
A #tax refund can provide an opportunity to improve your #financial situation. http://ow.ly/EWaow @AmericaSaves #SavingsFactFriday
#Savingsbonds are a great & safe way to #save your refund, & enter @SaveYourRefund. http://ow.ly/UJ8hO @AmericaSaves #SavingsFactFriday
Phishing is the most common #taxtime ruse scammers use to dupe taxpayers. http://ow.ly/EWeyQ @AmericaSaves #SavingsFactFriday
Saving even $50 of your #taxrefund can make all the difference. @SaveYourRefund http://ow.ly/UJ9MY @AmericaSaves #SavingsFactFriday
Millions miss out on the EITC b/c they don't claim it or don't file taxes at all. http://ow.ly/UJahk @AmericaSaves #SavingsFactFriday
If it sounds too good to be true, it probably is. Beware #taxtime scams. http://ow.ly/EWfz3 @AmericaSaves #SavingsFactFriday
Additional Posts
The easiest & most effective way to #save at #taxtime is automatically. http://ow.ly/EWgxw via @AmericaSaves
Setting goals for #taxtime? Let @AmericaSaves help! Text SAVES to 30364 to get advice & #savingstips straight to your phone.
Set your #taxtime #savings goal, make a plan, save automatically - pledge to #save today! http://ow.ly/EWgSr via @AmericaSaves
After splitting your refund w/Form 8888, all you need is 93 seconds to enter @SaveYourRefund! http://ow.ly/UJ01Z @AmericanSaves
Do you have a savvy #savingstip or story about #taxtime #savings? Share it w/ @AmericaSaves! You could win $25! http://ow.ly/EWhbP
Tools & Resources
Share the following tools and resources with your audience and with other organizations.
America Saves Resources
· Saving at Tax Time
o Tips to Get the Most Value from Your Tax Refund
o Tax Time Savings Bonds
o Download the following one-pagers and posters to use at events and VITA sites
· America Saves Blog:
o 4 Things You Didn’t Know You Could Do with Your Tax Return
o Be Money Wise at Tax Time: 5 Ways to Spend Your Tax Refund Wisely
o Beware of These 5 Tax-Season Scams
o Grow Your Tax Refund with Savings Bonds
o Have You Completed Your New Year’s Financial Resolutions?
o Healthy Uses for Your 2014 Tax Refund
o Is Spending More Fun Than Saving?
o Put the Earned Income Tax Credit to Work for You
o Recovering from Holiday Spending: 4 Tips to Get Back on the Savings Track
o Saving at Tax Time
o Savvy Allocation of Your Tax Refund
o Why You Should Use Your Tax Refund to Pay Off Debt
· America Saves Week downloads
o Saving at Tax Time flyers, posters, & payroll stuffers
SaveYourRefund
· Official Rules
· About SYR
· Become a Partner or Friend
Other Resources
· Bonds Make it Easy
· Getting a grip on income tax season (CFPB)
· Internal Revenue Service (IRS)
o Free Tax Return Preparation for Qualifying Taxpayers
o Help & Resources
o Online Services for Individuals
o Tax Information for Students
o Tax Resources for Disaster Victims
· myRA – US Department of the Treasury
· Ready. Save. Grow.
Research
· American Consumer Credit Counseling
o ACCC Survey Finds Nearly 70 Percent of Consumers Used Their Tax Refund to Get Ahead on Monthly Bills and Pay Down Debt
o Tax Refund Poll Results, 2015
· CFPB Office of Financial Empowerment
o Increasing saving at tax time and promising practices for the field
· National Retail Federation
o Americans Planning to Save, Not Splurge, with Tax Refunds This Year