Dallas Saves is a tiered match incentive savings program that allows taxpayers to stretch out their tax refund throughout the year. Taxpayers utilizing Dallas Community Tax Centers No Cost tax preparation services are eligible to enroll in a savings account, specified as Dallas Saves, with one of our banking partners either prior to the tax season or within the tax season and designate a portion of their tax refund to be placed into the account as an emergency savings account. Throughout the year, a Dallas Saves representative, will review only the account balances and call clients on a quarterly basis to help with additional resources or to simply give a congratulations on their savings journey.
At the end of the year, December 1st, the final account balance will be pulled to determine their incentive match. If the taxpayer has saved the following amounts, the Dallas Community Tax Centers, a program of Foundation Communities will match at a certain percentage.
$50 – $249 = $50 match
$250 – $499 = $100 match
$500 or more = $200
Contact 469-382-2068 to set up an appointment for enrollment.
Documents needed to open an account:
1. Valid Photo ID
2. Social Security Card/ITIN Letter
The Dallas Saves program was born out of a volunteer request and seeing the need of taxpayers and their families not being able to handle life’s emergencies. Research has proven that with a savings of as little as $250 can help stay out a payday landing cycle. At Dallas Community Tax Centers, for the majority of our clients, 19% of their total annual income come from this one-time tax refund that they utilize to catch up on bills and back rent payments and some savings; therefore, the Dallas Saves program helps families to stretch out those tax dollars and make them last all year long. Initiated during tax season 2017, 22 participants engaged in Dallas Saves. In 2018 tax season, 120 taxpayers participated in Dallas Saves, collectively saving $33,000 in emergency savings throughout the year.
We look forward to you helping us spread the word about our core programs, tax preparation and financial stability. Below are helpful materials and links or check out our FAQs.
Prepare your tax return on your own using one of these free online services.