Every year, millions of eligible Americans miss out on valuable tax credits like the Earned Income Tax Credit —leaving billions unclaimed and families without crucial financial support. In 2021 alone, 22% of eligible households failed to claim the EITC, resulting in an estimated $8.2 billion left on the table.
To help close this gap, Prosperity Now and the Wells Fargo Foundation have awarded $200,000 in grants to 15 community-based organizations through the 2025 VITA Support Fund. These nonprofits will provide free, IRS-certified Volunteer Income Tax Assistance services in 12 U.S. markets, helping thousands of taxpayers file their returns and claim refundable credits like the EITC and Child Tax Credit.
“When we support community-based tax preparation, we’re not only helping families strengthen their financial footing, but we’re also keeping dollars circulation in local economies,” said Marisa Calderon, President & CEO of Prosperity Now.
The cost of professional tax preparation, which averages around $400 for basic returns, can be a financial hurdle for families earning between $20,000 and $60,000 annually. VITA programs eliminate that barrier by offering no-cost, accurate filing in trusted local settings.
The 15 funded organizations, chosen for their cultural competency and deep community roots, are expected to prepare over 20,000 tax returns in 2025. Collectively, their efforts are projected to return an estimated $25 million in refunds and credits to eligible households. Beyond tax season, many of these groups provide financial coaching, access to safe banking options, and assistance with public benefits.
“Supporting VITA programs is an important way we can make a difference on people’s path to financial security,” said Bonnie Wallace, head of financial health philanthropy at Wells Fargo.
The VITA Support Fund initiative underscores Prosperity Now and the Wells Fargo Foundation’s shared goal of expanding financial opportunity by investing in accessible, community-centered services.
