Occasionally, a news item will come across my desk that will cause me to do a double take. This story, reported on the PR Newswire, was one of those items: Wal-Mart will offer free tax filing services to eligible taxpayers in its parking lots.
Just let that sink in for a minute.
In fairness, it sounds a little more odd than it is. Wal-Mart Foundation has teamed up with United Way and One Economy Corporation to launch a free mobile tax filing clinic. The clinic will be staffed by IRS VITA (volunteer income tax assistance) volunteers and will be set up in Wal-Mart parking lots and office for two to three weeks at a time between February 10 and April 11. To find a parking lot location near you, visit www.myfreetaxes.com.
Individual taxpayers earning less than $56,000 per year will be able to file their taxes free of charge. Specific emphasis will be on making the EIC (earned income credit) available to lower income families.
The Foundation estimates that it will save taxpayers nearly $45 million in tax preparation fees. Now that’s rolling back prices.
It’s also brilliant marketing. If taxpayers find out that they are getting a few dollars back on their income tax return this year, they might be inclined to, say, spend those dollars at Wal-Mart. Just saying.
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