Federal Deposit Insurance Corporation (FDIC) Resources
FDIC Hosts National Webinar – Tax Time & EITC: Bankable Moments & Resources for Banks and Consumers
The Federal Deposit Insurance Corporation (FDIC) hosted a national virtual webinar to encourage financial institutions and community-based organizations (CBOs) to promote free tax filing assistance to low-and moderate-income households through the Internal Revenue Service’s (IRS) Volunteer Income Tax Assistance (VITA) and Tax Credit for the Elderly (TCE) programs. Speakers will raise awareness about the $14.6 billion of Earned Income Tax Credits (EITC) that were unclaimed in 2023 and will share resources for banks and consumers about the importance of opening a federally insured account before filing taxes and splitting a portion of their tax refund into a savings account. In addition, a bank representative will share their institution’s experience and reasons for participating in the VITA program, as well as related outcomes.
• Survey of VITA Providers https://www.fdic.gov/consumer-research/fdic-survey-vita-providers
• (on the FDIC Banker Resource Centerhttps://www.fdic.gov/banker-resource-center/expanding-account-access-through-affordable-accounts
Overview of FDIC tax time savings initiative https://www.fdic.gov/consumer-resource-center/fdic-supports-financial-stability-through-vita-collaborations
• Information for bankers
• Information for consumers
Tax Time resources
• Get Banked! (open a bank account) https://www.fdic.gov/getbanked
• Community Affairs events (register for upcoming events) https://www.fdic.gov/consumer-resource-center/upcoming-community-affairs-events
• Money Smart (financial education program for people of all ages) https://www.fdic.gov/consumer-resource-center/money-smart
• Money Smart News and Consumer News (newsletters for consumers) https://www.fdic.gov/consumer-resource-center/money-smart-news
• Money Smart Alliance (teaches Money Smart and/or trains others) https://www.fdic.gov/consumer-resource-center/money-smart-alliance
• Recording to this webinar (will be available around 1/29 https://www.fdic.gov/consumer-resource-center/events/fdic-hosts-national-webinar-tax-time-eitc-bankable-moments
Additional Resources:
- Webinar Recording from the National Webinar on January 22, 2025
- Compiled Slide Deck from the National Webinar on January 22, 2025 (PDF)
- FDIC Tax Time Savings Initiative
- FDIC Banker Resource Center: Opportunity to Provide Free Tax Assistance to Consumers
- FDIC Consumer Resource Center: Free Tax Preparation for Taxpayers Who Qualify
- Free tax return preparation for qualifying taxpayers | Internal Revenue Service
- Guide to filing your taxes in 2024 | Consumer Financial Protection Bureau
