At Resource bank, we value the communities that we serve and we want to ensure that everyone has access to the financial knowledge that they need to make wise financial decisions. This starts in the classroom and should continue throughout life. We have gathered the below resources for all ages to assist in starting and continuing financial education. Below are resources that children, parents, teachers, teens, high school students, and adults will find useful. Please enjoy and contact us to schedule a visit to your classroom or business.
Money Smart is a program powered by the FDIC. This program is excellent if you’re looking for ways to improve your financial health and learn about banking, credit, and personal finance; this computer-based learning program will be a great fit! With modules for young adults, adults, and older adults, everyone can learn on their own time.
After completion of the courses, you even get a certificate acknowledging your accomplishments. Click here to get started.
Looking for K-12 options? Visit Money Smart for Young People.
FDIC Consumer News is the FDIC’s monthly newsletter to consumers, providing practical guidance on how to become a smarter, safer user of financial services, including helpful hints, quick tips, and common-sense strategies to protect and stretch your hard-earned dollars. Click here to read the monthly articles.
The following information is provided by the Internal Revenue Service. For questions regarding your specific tax situation, please contact a licensed tax professional. Resource Bank does not offer tax filing advice, and the below should be used for reference only.
Free File is easy, fast, safe, and secure: Taxpayers who want to prepare and file their tax returns electronically can use IRS Free File. IRS Free File offers brand-name tax software for taxpayers with an income of $72,000 or less in 2020. Taxpayers who earned more can use Free File Fillable Forms, the electronic version of IRS paper forms. Taxpayers can get started at IRS.gov/FreeFile. IRS Free File also lets taxpayers get an automatic extension of time to file if they need it.
Filing your taxes electronically and using direct deposit is the fastest and most accurate way to file and get a refund. The IRS issues nine out of ten refunds in twenty-one days or less. Taxpayers filing on paper can also choose direct deposit, but paper returns take longer to process.
Free File and e-file also help taxpayers who owe. When filing electronically, taxpayers can pay with electronic funds withdrawal for free. Another option is to pay with their bank account using Direct Pay. In addition to paying online, taxpayers who owe taxes can pay using the IRS2Go mobile app on smartphones or other mobile devices. Information about all payment options is available at IRS.gov/payments.
Free options for the military and some veterans: MilTax, Military OneSource’s tax service, provides online software for eligible individuals to electronically file a federal return and up to three state returns for free. Military OneSource is a program funded by the Department of Defense that provides a range of free resources for military members, veterans, and their families.
More information about MilTax from Military OneSource is available at MilitaryOneSource.mil.
Get free tax help from volunteers in the community: The Volunteer Income Tax Assistance (VITA) program offers free tax help to individuals who generally make $57,000 or less, persons with disabilities, the elderly, and individuals with limited English proficiency needing assistance in preparing their taxes. The Tax Counseling for the Elderly (TCE) program also offers free tax help to taxpayers, particularly those age 60 and older.
This tax season, due to the ongoing pandemic, some volunteer sites will offer virtual help to taxpayers in place of face-to-face assistance. This allows volunteers to help taxpayers over the phone or online to complete their returns. While virtual tax prep will be an option this tax season, some VITA/TCE sites will still offer in-person free tax help. Safety and social distancing will be emphasized at in-person locations.
IRS-certified VITA and TCE volunteers are trained to help taxpayers claim the tax credits they are entitled to, such as the Earned Income Tax Credit and the Child Tax Credit and Credit for Other Dependents.
The Earned Income Tax Credit (EITC) is a significant tax credit for workers who earned $56,844 or less in 2020. The IRS estimates four out of five eligible taxpayers claim and get the EITC. Nationwide in 2020, around 25 million taxpayers received over $62 billion in EITC. The average EITC amount received was $2,461 per return. The EITC is worth as much as $6,660 for a family with three or more children or up to $538 for taxpayers without a qualifying child.
New to this tax season, taxpayers can use their 2019 earned income to figure their 2020 EITC and the Additional Child Tax Credit if their 2019 earned income was more than their 2020 earned income. Filers must have earned income to qualify for EITC. This option may help workers who earned less in 2020 or those that received unemployment income instead of their regular wages get more significant tax credits and larger refunds in the coming year.
Also, any Economic Impact Payments received are not taxable or counted as income for purposes of claiming the EITC. Eligible individuals who did not receive the full amounts of both Economic Impact Payments may claim the Recovery Rebate Credit on their 2020 tax return. See IRS.gov/rrc for more information.
The VITA and TCE programs can help answer many EITC questions and help taxpayers claim the credit if they qualify. Taxpayers may also use the IRS.gov EITC Assistant to help them determine their eligibility.
Help in other languages – Chinese, Cantonese, Hindi, Korean, Mandarin, Russian, Spanish, Tagalog, and Vietnamese – is also available at select locations. The locator tool indicates where these services are offered.
365 to Rich Bank Day is a program for high school seniors to spend a day shadowing a banker and learn about bank operations. Typically held in October, the purpose is to introduce banking as a career option and provide financial literacy resources.
Resource Bank participates every fall semester. Please contact firstname.lastname@example.org for more information about registering for the program.
Teachers, are you looking for lesson plans to incorporate personal finance into your classroom? NextGen is a nonprofit that focuses on bringing knowledge about finance into all classrooms. They offer a variety of finance topics for free in easy to use lesson plans. Click here to learn more.
Simply Banking was designed to be used in the classroom, for homeschooling, or independent learning. Seven sections in this teaching guide present simple facts bankers believe new customers need to understand and activities to help learners process the information presented and put it into practice. Each section also includes assistance for teachers, including learning objectives, content standards, and benchmarks, and evaluation activities. You may duplicate learning activities and worksheets for classroom use. View the guide from the Louisiana Banker’s Association here.
Teach Children to Save (TCTS) is the American Bankers Association Foundation’s free resource designed to assist in the financial education of students K-8. ABA has provided a variety of lesson plans for multiple age groups and teaching styles. Resources include interactive power points and activities to enhance and instill learning.
We are happy to send a Resource Bank representative to your classroom to give any of ABA’s financial lesson plans, or you can use them as a guide for your lessons. We even offer virtual learning options. Contact us to schedule a class.
This game is perfect for teaching and reinforcing financial knowledge. Choose from a variety of topics to teach or learn and then play a game of football. The more questions you answer correctly, the more you score on the football field. Choose your favorite lesson and NFL team, and you’re ready to go! Get ready to play here. The game works best in the app.
Do you have questions about things like mortgages, credit cards, fighting fraud or saving for college? Below are some online sites to help make knowledgeable financial decisions.
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Interested in bring financial education to your classroom, networking group, or mentoring program?
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