The Department of Consumer and Worker Protection in compliance with PPB Rule 3-03 seeks to provide Annual Tax Season Initiative to increase awareness of and access to free tax preparation services and valuable tax credits, such as the EITC, CTC, and the New York City Child Care Tax Credit (NYC CCTC) for New Yorkers with low and moderate incomes. The Initiative is to promote services that help New Yorkers build assets, save for emergencies and increase their financial stability and through its primary activity, the NYC Free Tax Prep program (Program), seeks to increase access to and awareness of free tax preparation services and valuable tax credits and to use tax time as an opportunity to connect tax filers to asset building and financial health resources. Tax refunds, particularly those boosted by refundable tax credits like the Earned Income Tax Credit (EITC), can be the largest cash infusion or “paycheck” a family receives all year. Most families use their tax refunds to pay for vital household expenses like food, rent, utilities, and school supplies, while also paying off debt or catching up on bills. Filers get to keep their entire refund when they use free tax preparation services.
