Assemblymember Joe Coto (D – San Jose) in coordination with One Economy, a multinational nonprofit (www.one-economy.com) is issuing a challenge and request to the media to help the working poor by calling attention to the over $12 Billion in potential Earned Income Tax Credit (EITC) refund money left unclaimed every year.

A lack of information, complex eligibility process and the costs involved in filing, have resulted in unclaimed tax rebates in excess of $12 billion. One Economy and its partners including CompleteTax.com, have taken steps to eliminate the cost and complexity issues through a free eligibility calculator and free tax filing at their consumer website www.thebeehive.org/taxes. Coto commended the organizations and urged the media and local officials to spread the word. “These organizations have done the tough work and eliminated the key barriers, now we need to raise the awareness level in our communities, especially among low-wage workers, so they apply and get these rebates,” said Coto.

A kick off is scheduled for this week to initiate the drive.

What: San Jose EITC Working Group Kick-Off
When: Thursday February 1st at 2 pm 
Where: Most Holy Trinity Church 2040 Nassau Dr. San Jose CA
Partners:
San Jose EITC Working Group Collaborative Members:
One Economy
IRS VITA Program
Office of State Assemblymember 23rd District  Joe Coto
Office of Councilmember District 8 David Cortese
Office of Councilmember District 5 Nora Campos
Most Holy Trinity Church
Neighborhood Housing Services Silicon Valley
Work2Future One Stop-San Jose

Additional Background Information

“Over seven million working families who were eligible did not claim their Earned Income Tax Credit last year,” said Rey Ramsey, CEO of One Economy. “That is about $12 billion a year of potential tax rebates that go unclaimed, primarily because low-wage workers who are eligible simply don’t know about it. One Economy and its partners have put together the tools and programs to help the working poor claim their EITC tax rebates, free of charge. With the help of the media and other non-profit groups, we hope to spread the word and return more money to more people this year.”

The Beehive.org (www.thebeehive.org), a bilingual website featuring interactive content and tools that enable people to improve their lives will host Complete Tax on its website starting February 1, 2007. The tax resource will be available as a free online tool for all eligible users in order to learn and file their federal income tax return electronically.  The free tool will also determine filers’ eligibility of the Earned Income Tax Credit (EITC).

One Economy has two goals in mind: to ensure that people are educated about EITC and to help people file for taxes for free using CompleteTax.

This resource will be located in the Money/Dinero section of the Beehive and will provide important tax information and local on-the-ground resources for the EITC, but it also provides an interactive eligibility quiz, and a free tax filing tool through CompleteTax. Childcare providers and small business (Schedule C) are also able to file online. Across the nation, One Economy will partner with groups that are already offering tax aid services throughout their region, in addition to organizations that want to provide the services to their clients and employees. Non-profits and other groups who want to help spread the word can simply link to the website at www.thebeehive.org/taxes and encourage their constituents to use this free resource to file their taxes and claim their Earned Income Tax Credit refund.

In addition to EITC content, the Beehive’s Money/Dinero Section includes bi-lingual tools and content to help users achieve financial independence, including; paying off debt, opening a checking account, mortgage payments and investing a refund in a 401(k). The Beehive’s free tax help resource center is available now at www.thebeehive.org/taxes.                   

 About The Beehive

The Beehive (www.thebeehive.org) is an award-winning, multilingual Web portal that provides low-income individuals and families with free E-mail accounts along with Web-based tools and information about financial services, education, jobs, health care, and family. Developed and maintained by multinational non-profit One Economy Corporation (www.one-economy.com), the site features topics that can help people raise their standard of living by accessing information and learning how to take action on issues that are important to them and can change their lives.

About One Economy Corporation

One Economy Corporation is a multi-national non-profit founded in 2000 that uses technology-based strategies to help low income people improve their lives and join the economic mainstream. One Economy’s strategy brings broadband into the home along with online content through their bilingual consumer website the Beehive (www.thebeehive.org). Through its Bring IT Home campaign, One Economy has helped bring broadband into the homes of 200,000 low-income people. To date nearly nine million individuals have used the Beehive. One Economy recently launched a campaign to expand these online offerings by creating the Public Internet Channel. For more information, visit www.one-economy.com.

CONTACT ONE ECONOMY:
Jaime Contreras
Community Liaison
Office:  408.277.3073
Fax:     408.295.4537