Los Angeles Tax Season

Bank of the West Supports the City of Los Angeles During 2013 Tax Season

Bank of the West Supports the City of Los Angeles During 2013 Tax Season

Los Angeles, CA | February 11, 2013

Bank of the West was one of several organizations that supported the Los Angeles Community Development Department during the February launch to bring greater awareness to Volunteer Income Tax Assistance (VITA) sites that offer free tax prep and help qualified low- and moderate-income families claim their earned income tax credit (EITC).

The city-wide Saturday launch engaged 21 Family Support Centers that, along with free tax preparations, also offer financial education and counseling resources. During the one-day event on Feb. 9, the Centers processed almost 400 tax returns, helping individuals and families claim close to $625,000 in tax refunds. The free tax preparation services continue at Family Support Center sites through April 15. Last year, the city of Los Angeles and its nonprofit and corporate partners helped more than 40,000 residents in the greater metropolitan area claim over $45 million in total refunds.

"Bank of the West is pleased to support Los Angeles’ community development efforts in reaching out to those who benefit from VITA sites and claiming the EITC," said Dian Quinn, community affairs officer for Bank of the West. "The tax season is a significant opportunity to assist taxpayers who may be missing out on funds that they could otherwise be using to pay down debt or put toward personal savings. Through nonprofit-supported VITA sites, we also encourage individuals and families to get the financial information they need so they can work toward a secure future."

According to the IRS, EITC is one of the nation's largest anti-poverty programs, annually lifting 6.6 million people out of poverty. Last year in the U.S., over 27 million workers received nearly $62 billion in earned income tax credit. The average credit was over $2,200, but can be as much as $5,891 this year depending on worker's income, marital status and whether they have children.

Bank of the West's support of the VITA and EITC programs, along with its ongoing financial education campaign in schools and with community organizations, reflects the bank’s commitment to important programs and partnerships that build the social and economic health of the communities in which it operates.

"We are always appreciative of the support we receive from organizations like Bank of the West that work with the Community Development Department to further the goal of creating jobs and strengthening families," said Gregg Irish, interim general manager for the Los Angeles Community Development Department. "In this case we see families applying for and receiving the Earned Income Tax Credit, which means more money coming into their homes and community. This has a domino effect of increased purchasing power, further educational opportunities and a stronger base for families."

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  • San Francisco, CA 94104