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The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.
Specifically, the bill “directs the Internal Revenue Service (IRS) to establish a Community Volunteer Income Tax Assistance Matching Grant Program to provide matching funds for the development, expansion, or continuation of tax preparation programs to assist low-income taxpayers and members of under-served populations.”
This year, eligible families can use GetCTC to receive the 2021 Child Tax Credit, expanded last year to $3,600 per child 5 and under and $3,000 per child 6 to 17.
Explore these no-cost options first before you pay for tax help.
Taxes can be confusing -- with questions about whether it's better to itemize deductions, and what exactly you can or can't claim (not to mention the various forms and receipts you may need). Find...
LIFT is a nonprofit dedicated to helping families break the cycle of poverty in the United States. By fostering relationships between low-income parents (members) and dedicated volunteers (advocates), LIFT helps families build the strong personal, social and financial foundations to secure immediate, critical needs and to achieve long-term goals and aspirations.
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