Ladder Up Makes Major Financial Impact On Chicago Residents With Over $16 Million In Tax Refunds - So Far

CHICAGO, April 12, 2023 /PRNewswire/ -- With less one week remaining in the 2023 income tax filing season, Ladder Up is thrilled to announce that over $16 million is back in the pockets of low-income Chicago and suburban residents in the form of tax returns.

Ladder Up, Chicagoland's premier financial nonprofit partner, files taxes for free for qualifying clients. These individuals and families have reported being charged hundreds of dollars to submit this required annual paperwork and are often taken advantage of by predatory financial operations.

"I am delighted that our most current data indicates that our clients are coming to see us in numbers reflective of a pre-Covid-19 manner. Given that pandemic related credits and stimulus monies have also resumed to pre-2020 levels or been eliminated, this is really affirming," said Executive Director Phyllis Cavallone-Jurek.

Ladder Up's 2023 Tax Season By The Numbers:

• Total amount of refunds: $16,723,948
• Average return amount: $1,526
• Total returns completed: 10,956
• Total individuals impacted: 15,493
• Total volunteers: 734
• Total volunteer hours: 9,920

The deadline to file income taxes is April 18. There is still time to file with the help of trained Ladder Up volunteers at one of their 11 city and suburban Tax Assistance Program (TAP) site locations. Clients who qualify include individuals earning $32,000 a year and families earning $60,000 a year.

Ladder Up clients previously reported using their tax refund to pay for everyday essentials such as food, bills, and gas. They are often marginalized by today's financial systems due to race, gender, and class identifications. They are less able to understand how to prepare an accurate tax return and are more at risk of costly mistakes.

"Our clients know that they are receiving the best return possible and without the added burden of paying a tax preparer. We are humbled to be a trusted resource for so many people," Cavallone-Jurek said.

After tax season concludes, the important work at Ladder Up continues. The organization also provides college financial aid guidance, financial education, a year-round tax clinic to help resolve tax issues and assistance applying or renewing an Individual Taxpayer Identification Number.

Ladder Up's mission creates a critically beneficial impact on its clients and community by giving hardworking people the resources they need to move up the economic ladder and guide them toward a brighter future.

Media Contact: Cat Donovan
Email: [email protected]

SOURCE Ladder Up