Needless to say that the 2020 holiday season will be like no other. This year, it’s more important than ever to plan ahead for the expenses that come with the holidays. But cutting down on expenses doesn’t have to mean that your holidays can’t be joyous. Here are some tips for minimizing cost while maximizing enjoyment.

Make a holiday budget. I know, not your idea of joy. But making a holiday budget can keep you from getting overwhelmed with expenses that just seem to pile up over the holiday season. Your holiday budget should include how much money you have or can set aside for added holiday costs, and a list of gift recipients and other expenses. A holiday budget is attached for you to try out.

Look for deals now. Many retailers are spreading their holiday sales over November and December, rather than having one-day deals on black Friday. With your holiday budget in hand, you can save on gifts throughout the coming weeks.

Plan for making (socially distanced) memories instead of buying gifts. This seems even harder to do during a global pandemic, so we have to get extra creative! Some ideas for meaningful, socially distanced activities are:

· Hold a decorating contest over video call. All participants show off their decorated home, room, doorway, or gingerbread house!

· Organize a cookie swap with your neighbors. Neighbors can leave cookies at each other’s front doors.

· Organize a food drive or fundraiser with friends and family. Donate the proceeds to a local charity.

· Send heartfelt hand-written cards to friends and family – make the cards yourself if you’re feeling crafty.

For help creating your very own budget-friendly holiday plan, schedule a phone or Zoom appointment with a Financial Coach. Call 737-717-4000 or visit our web site to schedule your appointment.

Written by Erika Leos, Financial Wellness Program Manager

While a second stimulus payment is still being negotiated in Washington, there is still time to claim the first payment, but not much! For those who have not received your stimulus payment, here are the dates you need to keep in mind:

Some federal benefit recipients need to act by September 30. The IRS reopened the registration period only for individuals who are federal benefit recipients who didn’t receive $500 per qualifying child payments earlier this year. Use the IRS.gov Non-Filers tool through September 30 to provide information about a qualifying child to receive a $500 per child payment.

Most people have until October 15.

• If you need to file a 2019 tax return, the tax filing deadline is October 15. The IRS will use the information on your tax return to send you your stimulus payment.
• If you don’t have to file and do not plan to file a 2019 tax return, use the Non-Filers: Enter Payment Info Here application to provide simple information by October 15 so you can get your payment.

If you already filed your return and need to check the status of your stimulus payment or update your bank account information, you can do that with the Get My Payment tool.

The National Disability Institute’s Financial Resilience Center created two videos in American Sign Language (ASL) to help you determine if you are eligible for the stimulus payment. You can find them on the Deaf & Hard-of-hearing Resources page.

Foundation Communities’ Prosper Centers are here to help you find your next step for claiming your stimulus payment. Call us at 737-717-4000 for tax resources, or to schedule a virtual appointment with a Financial Coach.

Sources:

https://files.consumerfinance.gov/f/documents/cfpb_helping-consumers-claim-eip_guide.pdf

https://www.nationaldisabilityinstitute.org/financial-resilience-center/deaf-resources/

Written by Jasmine Walia

If you find yourself unable to make payments on bills, loans, or debts, you are not alone. Many of us are experiencing financial uncertainty due to coronavirus. Feeling anxious or overwhelmed is normal, as does not knowing what steps to take to keep yourself and your family financially protected. However, there are simple steps you can take to protect yourself and those around you, not just from coronavirus, but also from financial instability.

When you are ready to take action, where should you start? The Consumer Financial Protection Bureau (CFBP) is a U.S. government agency that makes sure banks, lenders, and other financial companies treat consumers fairly. The CFBP provides information you can use to financially protect yourself from coronavirus.

Contact financial institutions and discuss payment options, even if you cannot pay right away. Notifying lenders, creditors, or other loan servicers (this includes credit card companies, auto loan lenders, mortgage servicers, and debt collectors) that you are unable to pay or need a payment arrangement may allow for flexible options. Check a company’s website first to see if they have information about working with customer needs and then reach out to them, being prepared to explain your current financial situation, what you can afford to pay, when you can restart regular payments.

Regularly check your credit report to make sure there are no errors or delinquencies. This is especially important if you are working with lenders or other servicers on payment arrangements or forgiveness. Your credit has a lasting impact on your financial stability, so it is very important to make sure everything listed on your credit report is correct. You can request and view your free credit report by visiting annualcreditreport.com.

Be aware of financial scam attempts or fraudulent activities, as scammers often take advantage of people in a crisis. If you receive any suspicious information via email, text, or social media, do not provide any personal or sensitive information. To report a scam, you can provide a complain to the Federal Trade Commission, or contact your local police or sheriff office.

Though these steps may seem daunting, you are not alone in taking action. Foundation Communities has virtual financial coaching available to provide you with assistance as you go through the process of financially protecting yourself. They can also share resources around budgeting, saving, and planning for future emergencies. Foundation Communities is here to support you, as we all attempt to get through this pandemic, both physically and financially protected. Visit https://foundcom.org/financial-wellness/ to get started.

Sources:

Consumer Financial Protection Bureau. 2020. Protect yourself financially from the impact of the coronavirus. https://www.consumerfinance.gov/about-us/blog/protect-yourself-financially-from-impact-of-coronavirus/

Due to COVID-19 the deadline for filing taxes was extended to July 15. If you still need to file your taxes, Foundation Communities’ free online tax prep services are available for anyone who needs it. With the income tax filing deadline right around the corner, Austinites who need to file their tax return still have time to get help from our IRS-certified tax preparers. We offer absolutely free tax preparation with no fees or deductions from refunds.

Are you expecting a refund? If so, get in touch with us to file your tax return as soon as possible. Your refund can be deposited directly into your bank account. Our IRS-certified tax preparers are experienced at finding every tax credit you qualify for to get the maximum refund available. We file almost all returns electronically so you can get your refund quickly.

Foundation Communities has helped more than 250,000 Central Texans file their taxes since 2006. In March we closed our in-person tax assistance centers due to COVID-19, but re-launched our services online in April. Our IRS-certified tax preparers now work from home and support tax clients online and through phone appointments. Read our interview with tax preparer Johnny LeBlanc to hear what socially distanced tax preparation looks like (hint: it’s basically the same, just at a safe distance).

Our free tax prep website is open 24/7, offering plenty of flexibility for those who need help with their taxes. To get started, visit https://bit.ly/GetYourRefundAustin at a convenient time and use our online questionnaire to enter your tax and household information. After you’ve uploaded your tax documents and finished the questionnaire, a tax preparer will review your information and schedule a phone appointment to go over it with you. We also have online tax prep available in Spanish here: https://www.getyourrefund.org/?new_locale=es&s=FC.

We’re offering online tax prep services through the July 15 deadline, but we encourage you to get started right away to make sure we have time to review and file your return by the deadline. Online tax preparers are available Monday – Saturday. Questions? Email us at taxes@foundcom.org or call 512-610-7374 and leave a message so that staff can return your call.

Every year Foundation Communities helps more than 20,000 Central Texans prepare and file their taxes and maximize their refund. This year we had to close in-person tax preparation due to COVID-19, but in early April we launched 100% online tax preparation through July 15. Instead of meeting with clients in person, our tax preparers are using a fully online system and meeting with clients by phone to review the tax information they submit online at Foundation Communities’ tax filing portal.

Like many, our IRS-certified tax preparers have transitioned to working from home from their usual workplace at one of the Prosper Center locations or another tax site in Austin. We chatted with Johnny LeBlanc, one of our IRS-certified tax preparers, to hear what motivates him to help Central Texans prepare and file their taxes, and how the shift from in-person to online tax prep is going.

If you still need to file your taxes and/or claim your stimulus payment, our IRS-certified team can help. Are you expecting a refund? Don’t wait! Visit Foundation Communities’ tax filing portal, or call 512-610-7374 for assistance.

How long have you been volunteering with Foundation Communities as an IRS-certified Tax Help volunteer and how did you get involved? 

I started volunteering in 2008. I don’t remember how I first heard about the Foundation Communities tax program (probably a PSA on KUT), but I attended a training session and decided to give it a try.

How did your experience volunteering build upon your previous expertise? What have you learned along the way? 

I’m a retired electrical engineer. Numbers and complexity are not intimidating to me, and I have been doing my own federal taxes for many years, so doing tax returns has been easy. Interacting with so many different people while helping them with their taxes has definitely been a different experience than that of an engineer working for a large company.

The Tax Help program typically is an in-person service, but due to COVID-19 precautions needed to switch to virtual service. What’s it like volunteering virtually? 

It’s very positive that we are still able to help folks with their taxes. Using the tax software is exactly the same as it was at the tax sites and the online platform makes it super easy to communicate with the Foundation Communities staff. The only downside is not being able to interact directly with our clients. I miss that.

What does your virtual volunteer work-from-home space set-up look like?

I’m an old nerd so I have a powerful desktop computer and a very large monitor in my home office, which makes doing virtual tax returns super easy. I have a bird feeder right outside my window so I can see the parent birds frantically trying to keep their fledglings fed and my desk is usually covered with 2 or 3 sleeping cats (often snoring) while I’m doing taxes.

What do you miss most about volunteering in-person at the tax sites? 

Interacting with the Foundation Communities staff and getting to meet our tax clients in person.

When you’re not volunteering, what do you enjoy doing? 

My main hobby is photography, I dabble at digital painting, and I also love visiting and hiking in our national parks (local parks too). I also volunteer at the Austin Animal Center where I try to help get cats adopted.

What’s the last book, movie, or TV show that made you laugh out loud? 

Big Bang Theory

Favorite treat? 

Milk chocolate

For anyone considering getting their taxes prepared virtually, but have never used a virtual service before, what would you want them to know to help them feel comfortable? 

If you are uncomfortable with using our virtual tax service, just think of it as using TurboTax but with real people to do the actual return for you and who will review and explain the return with you before it will be submitted.

For more than 15 years, Foundation Communities has welcomed community members to free tax preparation sites across the city. This year, we had to close our in-person tax prep services because of COVID-19, but we knew that thousands of people still needed help to file their taxes and claim their refunds. That’s why we’re now offering free online tax preparation from our IRS-certified tax preparers. It’s the same great service we’ve always provided, but offered online so everyone can stay safe and healthy.

Our free tax prep website is open 24/7 from the comfort of your home. You can start doing your taxes at any time that’s convenient for you. You’ll start by entering information about your household and finances, and you’ll upload your tax documents. Once you’re done with the online questionnaire, our IRS-certified tax preparers will review your information and give you a call. If you have questions you can call us at 512-610-7374 and leave a message with your concerns and our team will call you back.

Online tax prep makes it easy for us to file your return electronically and expedite your refund. We’ll file your return electronically in most cases. This is the fastest way to get your refund. The IRS is not processing paper returns due to COVID-19, and we don’t know when they will start or how long it will take for refunds to start going out. There are never any fees for our tax preparation services, and your full refund will be directly deposited to your bank account. If you need a bank account, we can help you open one.

You will get support from a real person who is preparing your tax return. Even though we’ve moved online, we’re offering the same support and service we offer every year. That means someone from our tax prep team will be available if you have questions about your taxes, need to update any information, or need to add a last-minute tax document.

We make sure you maximize your refund. Our IRS-certified tax preparers are experienced at finding every tax credit you qualify for. We carefully review your personal and household information and your tax documents to make sure you get the maximum refund available. We’ll review your tax return with you and then file electronically so you get your refund as soon as possible.

As we all go through this difficult period of change, we will do our best to make filing your taxes simple and convenient.

Foundation Communities is offering free online tax preparation in partnership with GetYourRefund.org. When we say free we really mean free. There are no fees or deductions from your refund for our services. And online tax prep and filing is the quickest way to get your refund and stimulus check directly deposited to your bank account. 

Tax season can be a headache, but this year our IRS-certified tax preparers can help you prepare and file your taxes from home with minimal fuss. And don’t forget — the tax filing deadline is now July 15 for everyone. Due to COVID-19 we have closed our in-person tax prep services and aren’t sure when we’ll be able to re-open, but we can provide you with the same great service online.

If you are expecting a refund or need help claiming your stimulus check, we urge you to file your taxes as soon as possible. We can help! Click here to get started.

If you’re expecting a refund or need to file your 2018 and/or 2019 taxes so you can claim your stimulus check, we can help you through the process. We can also help you file previous year’s taxes, if needed. 

Most IRS locations are closed due to COVID-19 and they have been unable to process paper returns. Taxpayers who file a paper return will experience long delays in getting their refund this year.

Here’s what you need to get started with online tax prep:

• Access to a computer or phone with internet access, an email address, and a valid phone number to sign into the online tax prep website.
• Proof of Social Security number or ITIN for everyone on the return.
• A valid photo ID to verify your identity (also for your spouse if filing jointly).
• All of your tax documents, such as W-2s, 1099s, 1095-A, etc. for yourself and your spouse. You will upload these documents or pictures of these documents online.

Once you have everything on the list, you can get started at bit.ly/GetYourRefundAustin. Click on the Get Started button to begin filling out your profile. If you have any problems submitting your documents, call our tax team at 512-610-7374, and they’ll call you back ASAP to help troubleshoot.

After you’ve completed your profile, a member of our tax team will give you a call to review everything with you before starting your return. Once we’ve completed your return, we’ll give you another call to review it before finalizing.

If you choose to file your return, our tax preparers will complete your return and file it with the IRS. Most people will be eligible for electronic filing, which will expedite your refund and stimulus check.

Foundation Communities will continue to offer online tax prep services through the July 15 deadline. Online tax preparers are available Monday – Saturday. Community members with questions about online tax prep or stimulus payments are encouraged to email us at taxes@foundcom.org or call 512-610-7374 and leave a message so that staff can return your call Monday – Saturday between 9 a.m. and 5 p.m.