Common Wealth Charlotte returns $310,627 to the pockets of Latino taxpayers in second year of VITA Latino

For individuals experiencing economic hardship and financial insecurity, tax season can pose additional strain, stress, and financial burden. Despite the requirement to prepare taxes annually, the cost to do so can be prohibitive. Recognizing the opportunity to ease this tax preparation burden for many in Charlotte’s Latinx community, Common Wealth Charlotte (CWC) launched VITA Latino in 2022. 

First offered by the IRS nationally in 1971, VITA – Volunteer Income Tax Assistance - helps low- to moderate-income individuals, persons with disabilities, the elderly, and limited English speakers file their taxes for free each year. Here in Mecklenburg County, VITA Latino specifically reaches a population of our community that has faced tax preparation barriers.  

VITA Latino is offered as part of CWC’s Buenas Finanzas Carolinas initiative, or “Good Finances Carolinas”. Buenas Finanzas provides CWCs full suite of financial literacy and capability services but through a culturally competent lens, to better accommodate Charlotte’s growing and underserved Latinx population. 

This year, VITA Latino returned $310,627 to Latino taxpayers – a 300% increase over last year.  This is especially meaningful as tax season is a time where clients have access to additional funds that can create a positive impact on their overall financial health and planning. VITA Latino served a total of 554 clients and prepared 242 tax returns.  Those who filed also paid $105,622 in tax liability (money owed to the government).  These results could not have been achieved without the support of this year’s corporate sponsors Bank of America and Duke Energy, and the 17 community partners who lent space and helped with marketing.    

 “VITA Latino is more than free tax preparation. It provides the Latinx community an avenue to obtain more information, education and services around financial literacy and capability.” shared Yuly Rodriguez , Buenas Finanzas Program Director. “It provides our community with trusted sources to assist them on their journey. When we work with clients, we not only provide referrals to our own services, but we also connect them with other local resources and providers.” 

VITA Latino relies on volunteers with tax preparation training or experience to assist clients in need. This year VITA Latino trained over 30 volunteers who have provided a combined 270 hours of volunteer time. Whether identifying tax deductions of which individuals were previously unaware, or providing education about the income tax process, CWC’s volunteers are dedicated to assisting clients by helping them properly file taxes, receive annual tax refunds, and benefit from reduced fees.  

David Arcia, Buenas Finanzas Service Manager, was inspired by the volunteers. “The commitment of our volunteers is what inspires you to do your best. Some of them travel up to 30 miles during rush hour and still arrive to do their best with a smile.” He also shared, “So many of our volunteers would step up during the busy tax season, even with their own busy lives, even if they had to rearrange their day schedule. No matter how far they were, we always had a new volunteer signing up to work on the busiest days, helping us to serve as many clients as possible. That is the kind of commitment that moves you and keeps your faith in people alive.” 

VITA Latino also provides CWC’s staff and volunteers an opportunity to learn more about their clients’ overall needs, so they can be referred for additional services such as legal assistance through Charlotte Legal Advocacy or help with food and job resources referrals, supporting their own path to success. Buenas Finanzas aims to reach and support its clients well beyond tax preparation into becoming an integral part of the community's road to financial literacy and growth.  

From CWC’s standpoint, financial stability, generational wealth, and upward mobility start by meeting each client where they are at, learning about their background and history, and helping them identify the long-term financial solutions, support, and resources they will need to create financial independence and security.  Buenas Finanzas is honored to be one of the trusted partners in the Latino community and continue to grow the VITA Latino program for their Latinx clients. 

Ada Garcia is a Buenas Finanzas Financial Advisor, and this was her first year supporting VITA Latino. “I didn't know how much of an impact we could have in our community until I experienced it firsthand. We do so much more with VITA than just filling out [tax] paperwork. I can't wait to see what's in store for us next year!” 

To learn more about the VITA Latino program and how you can be a partner in providing economic stability and free tax preparation to the Latinx community, visit VITALatino.org or https://www.commonwealthcharlotte.org.