KeyBank Offers Free Tax Return Prep in Nine Metro Areas on February 6

CLEVELAND, January 27, 2016 /3BL Media/ – On February 6, 2016, KeyBank will partner with nonprofit organizations in nine metropolitan areas across the United States to host its eleventh annual Super Refund Saturday—a one-day event during which KeyBank employees provide free, individual federal income tax preparation sessions to local low- and moderate-income wage earners, helping them determine their eligibility and apply for the Earned Income Tax Credit (EITC). In addition to the Super Refund Saturday event, KeyBank will partner nonprofits and provide volunteers at additional tax assistance sites throughout the 2016 tax season.

“KeyBank is committed to helping its communities thrive, and supporting our neighbors who are struggling to make ends meet is one crucial part of this mission," said Bruce Murphy, Key's Head of Corporate Responsibility. "We believe in helping hardworking individuals discover the dollars they are owed through our tax system by providing free tax preparation and consulting on Super Refund Saturday.”

Super Refund Saturday will be held in the following nine metropolitan areas on February 6: Cleveland, OH; Ann Arbor, MI; South Bend, IN; Indianapolis, IN; Dayton, OH; Akron, OH; Toledo, OH; Denver, CO; Tacoma, WA.  KeyBank will also be providing seasonal support to Tax sites in Buffalo, NY; Rochester, NY; Syracuse, NY; Portland, ME; Burlington, VT; Poughkeepsie, NY; Portland, OR; Seattle, WA; Columbus, OH; Cincinnati.  To about learn specific locations and times, participants can call 1-800-KEY2YOU.

The EITC, which was originally enacted in 1975, is now one of the largest anti-poverty tools in the United States. It is a refundable tax credit for low-to moderate-income individuals and families who work and may have children. Qualifying children must be under 18 years of age, unless in college or disabled, and must be related by blood, marriage or official decree, such as adoption. They must also live with the taxpayer claiming the EITC within the U.S. for at least half the year. Receiving the EITC helps families in need reduce their financial burden; however, taxpayers must file an income tax return to receive it, even if they don’t earn enough to pay taxes.

To qualify for the EITC, earned income must be less than:

• $47,747 ($53,267 if married filing jointly) with three or more qualifying children
• $44,454 ($49,974 if married filing jointly) with two or more qualifying children
• $39,131 ($44,651 if married filing jointly) with one or more qualifying child
• $14,820 ($20,330 if married filing jointly) with no qualifying children

The maximum Earned Income Tax Credit a tax filer can receive is:

• $6,143 with three or more qualifying children
• $5,460 with two qualifying children
• $3,305 with one qualifying child
• $496 with no qualifying children

For information about the EITC, visit the IRS’s website at http://www.irs.gov/Individuals/EITC,-Earned-Income-Tax-Credit,-Questions-and-Answers.

If participating in Super Refund Saturday, income tax return filers should bring these documents:

• Valid photo ID
• Social Security card for themselves and each dependent
• W-2 Forms (reporting full-time wages)
• Previous year’s tax return
• 1099 Forms (reporting part-time work and interest income), if applicable
• Unemployment forms, if applicable
• Proof of childcare payments
• Other IRS forms, as appropriate
• Bank account information and bank routing number

Last year’s Super Refund Saturday helped more than 1,000 families; processed $2.1 million in refunds (federal and state) for free; returned approximately $2.2 million in Earned Income Tax Credits to families that needed it most; and provided more than $37,000 via KeyBank Foundation to support nonprofit partners who helped execute the day.

About KeyCorp
KeyCorp was organized more than 160 years ago and is headquartered in Cleveland, Ohio.  One of the nation’s largest bank-based financial services companies, Key had assets of approximately $95.1 billion at December 31, 2015. Key provides deposit, lending, cash management and investment services to individuals, small and medium-sized businesses under the name of KeyBank National Association. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.