Ama, a mother of four young children who moved to Colorado from Senegal recently, needs every penny she can find to support her family.
Her husband still lives in Senegal, making her the family’s sole breadwinner. She cleans homes for a living, and manages to scrape by.
So when Ama learned through the African Leadership Group about Colorado’s new Family Affordability Tax Credit (FATC), she was eager to apply for the benefit. After filing her taxes, and filling out tax credit forms with the help of ALG’s Ruka Neba, she received a check from the state for $8,890.
More than 100 community members, with the help of Ruka and other ALG staff, collected more than $304,000 this yer from new FATC. In a time of climbing expenses, a windfall like this can make the difference between paying the rent or struggling to make monthly payments.
“As I help these people file their taxes, I ask them what they intend to do with this money,” Ruka said. “It’s money that they weren’t expecting. Some of them told me ‘I would like to invest it for my kids’ college. Others told me ‘I would like to start a business. I’ve been thinking of a business and this money will help me with that.’ And another person said ‘this is going to help me buy a car for my family.’”
The tax credit is targeted to families with children under 17 years of age. Single filers must have an adjusted gross income of under $85,000, and joint-filers must have an income below $95,000.
There is no guarantee that this tax credit will continue in future years at this same level. ALG will monitor the situation and keep the community informed.
Ruka said she has encouraged every family she has helped with the tax credit to begin attending ALG’s regular financial workshops. The next one will be held April 19 from 3 to 6 p.m. at ALG headquarters, 10700 E Evans Ave, Aurora.
