Tools for tax site managers
Documents cited in the Guide to Split Refunds for VITA Sites

Tools for tax site managers:

• Build Savings at Tax Time: A Guide to Split Refunds – a resource for managers of community-based tax preparation programs with practical “how to” information about marketing split refunds, training staff, engaging financial institutions and managing tax site operations (by D2D Fund, with support from United Way of America and the National Community Tax Coalition).
• IRS Form 8888 and Instructions (draft 8/24/06) - is an optional attachment to form 1040, 1040A or 1040EZ that allows tax refund recipients to specify up to three accounts to receive portions of their refund via direct deposit.
• Comments on Form 8888 by the Center for Economic Progress, in response the IRS call for feedback on the draft form.
• IRS Press Release, May 31, 2006 – announcing split refunds, including details about how the service may be used and IRS plans to finalize Form 8888 and related procedures.
• IRS Split Refund Fact Sheet – summarizes the benefits of the new split refunds capability and describes how to offer the IRS input or feedback about the program.
• IRS Important Information for U.S. Financial Institutions (draft 8/25/06) – provides a brief introduction to split refunds for financial institutions.
• IRS Important Information for IRS Partners (draft 8/25/06) – offers a brief introduction to split refunds for VITA sites and other IRS partners.
• IRS Commonly Asked Questions about Splitting (draft 8/25/06) – is a FAQ document for tax filers about split refunds.
• Handbook on Linking Community Tax Preparation with Asset-Building – details innovative practices that link tax campaigns to asset-building (by Eva DuBuisson & Lucy Gorham, EITC Carolinas).

Documents cited in the Guide to Split Refunds for VITA Sites:

• The Center for Social Development web site publications page has readings about the benefits of saving for low income families, including:
• "Assets, Health and Well-Being: Neighborhoods, Families, Children and Youth" by Deborah Page-Adams and Edward Scanlon, CSD.
• "Saving in Low-Income Households: Evidence from Interviews with Participants in the American Dream Demonstration" by Margaret Sherraden et al, CSD.
• “IDA State Policy Brief: Promoting Asset Building through the Earned Income Tax Credit” by CfED and the Center for Social Development.
• "To Save, or Not To Save? Reforming Asset Limits in Public Assistance Programs to Encourage Low-Income Americans to Save and Build Assets" by Leslie Parrish, New America Foundation.
• "The Foundation of Asset Building: Financial Services for Lower-Income Consumers" by Marva Williams and Kimbra Nieman. Woodstock Institute.
• “Strategies for Linking Your Community Tax Campaign to Asset Building” by Eva DuBuisson and Lucy Gorham, EITC Carolinas.
• Financial Literacy Programs – A Survey of the Banking Industry Consumer Bankers Association Survey, Consumer Bankers Association Survey.
• "You Can Bank on It", by Chi Chi Wu, National Consumer Law Center.
• "From the Margins to the Mainstream: A Guide to Building Products" and "Strategies for Underbanked Markets", National Community Investment Fund, (especially "Reaching the unbanked with Stored Value Cards").
• "Using Tax Refunds to Increase Savings and Retirement Security" by Mark Iwry, Retirement Security Project.
• Twelve Federal Reserve Banks located across the country.
• "PNC Bank Gains New Customers through Partnership with Delaware Earned Income Tax Credit Campaign" by Norma Zumsteg, PNC Bank.