The Internal Revenue Service (IRS) has announced that it is accepting applications for the Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants. These grants offer eligible organizations the opportunity to apply for annual funding for up to three years, enabling them to provide free federal tax return preparation assistance.
Applications will be accepted from May 1, 2023, through May 31, 2023, via Grants.gov for both TCE and VITA grant opportunities. The application packages and guidelines are readily available on IRS.gov. In 2022, the IRS awarded $11 million to 39 TCE grantees and $30 million to 305 VITA grantees. Combined, these two grant programs aided taxpayers in filing over 1.8 million tax returns nationwide last year.
Small business owners, especially those serving senior and underserved communities, may find these grant opportunities valuable, as they can help provide essential tax services to their clients, potentially expanding their customer base.
The TCE program, established by the IRS in 1978, offers tax counseling and return preparation services to individuals typically 60 years of age or older. The program extends training and technical assistance to senior communities throughout the country. More details can be found on the TCE webpage on IRS.gov.
Meanwhile, the VITA grant program, established in 2007, complements the VITA program created in 1969 to provide free tax filing assistance to underserved communities. The grant program enhances VITA’s capacity to serve underserved populations in hard-to-reach urban and non-urban areas. It aims to increase targeted taxpayers’ ability to file returns electronically, improve the training of volunteers, and enhance the accuracy rate of returns prepared at VITA sites. More information can be accessed on the VITA webpage on IRS.gov.
The TCE and VITA grant programs represent crucial tools in enhancing tax literacy and ensuring the equitable distribution of tax services. These grants can potentially help small businesses, especially those in the tax preparation industry, to extend their services to seniors and underserved populations, ultimately driving economic inclusion and growth.
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