Title
Authorization to Enter into a Contract with Masters of Coin and Accept Funds for the City of Phoenix Volunteer Income Tax Assistance Program (Ordinance S-50123)
Description
Request authorization for the City Manager, or his designee, to enter into an agreement and accept funding from Masters of Coin in an amount not to exceed $350,000 to support the City's volunteer income tax assistance (VITA) services up to a three-year contract term. Further, request authorization for the City Treasurer to accept, and the City Controller to disburse, all funds related to this item for the life of the contract.
Report
Summary
In April 2023, Masters of Coin was selected by the Central Arizona VITA Network to apply for the Federal Fiscal Year 2023-24 Internal Revenue Service (IRS) VITA grant on behalf of eight regional partners, including the City. Masters of Coin serves as the fiduciary agent for the City of Phoenix VITA Program to assist with managing operational purchases and grant reporting.
The VITA Program is funded by the IRS, with funding for the Central Arizona VITA Network passing through Master of Coin. The purpose of this program is to provide training and support for volunteers to become IRS Certified and provide free basic income tax return preparation with electronic filing to qualified individuals who are low-to-moderate-income. IRS Certified volunteers provide assistance to Phoenix residents through neighborhood centers, libraries, schools, shopping malls, senior and family services centers, and other convenient locations.
The City of Phoenix VITA Program offers services in-person, virtually and through a hybrid “Do It Yourself” option that allows tax clients to visit a VITA site and prepare their own taxes with the assistance of a nearby volunteer. In addition to assisting clients with electronically filing their taxes for free, volunteers also provide education on tax processes and promote the concept of financial self-sufficiency through saving money.
Contract Term
The contract will begin on or about Oct. 1, 2023, through Sept. 30, 2024, with two, one-year options to extend through Sept. 30, 2026.
Financial Impact
Funding is provided from the IRS, via Master of Coin. There is no impact to the General Fund.
Department
Responsible Department
This item is submitted by Deputy City Manager Gina Montes and the Human Services Department.