April is an important month for managing your personal finances, where we observe National Financial Literacy Month to promote the importance of financial literacy and encourage citizens to maintain healthy financial habits. The government provides many resources for assistance with tax returns, loan management, and general financial knowledge. Below you will find a few of the most popular government financial resources that are available for citizens.
Resources from the Treasury
The U.S. Department of the Treasury offers several resources to help citizens prepare for Tax Day. There are programs designed to educate people on credits and benefits they are eligible to receive, along with programs to help citizens complete their tax return. For example:
- Tax Help for People with Disabilities provides tax relief for disabled individual taxpayers and information for preparing a tax return. To qualify, a member of the household must be disabled or care for a disabled person. An advantage is that no application is needed for this program.
- The Armed Force Tax Benefits law allows tax benefits or relief for special tax situations of active members of the U.S. Armed Forces. Information on these special tax benefits for Armed Forces Personnel can be found in Publication 3, Armed Forces Tax Guide.
To browse a full list of related programs, visit the U.S. Department of the Treasury agency page on Benefits,gov. Also be sure to read our article Prepare for Tax Day with the Treasury for additional insight on tax assistance programs offered through Treasury.
Internal Revenue System (IRS) Resources
Like the Treasury, the IRS offers several tools and assistance programs to help citizens prepare for Tax Day. Below are a couple of the most popular tools and programs.
- The IRS.gov Free File program makes filing a tax return easier and less expensive. The program allows qualified users to file taxes on their own with software assistance, helps find tax breaks, and assists with filling out your state return. One advantage of the program is that it is free to file your completed return. To qualify, annual income must be $66,000 or less. For more information, citizens can visit the IRS Free File page.
- The Volunteer Income Tax Assistance (VITA) program offers free tax help to people who generally make $54,000 or less, persons with disabilities, the elderly and limited English-speaking taxpayers who need assistance in preparing their own tax returns. IRS-certified volunteers provide free basic income tax return preparation with electronic filing to qualified individuals. Learn more on the IRS VITA page.
To learn about other tax assistance programs offered by the IRS, check out our article Use IRS Resource to Prepare for Tax Season.
Resources from the Department of Education
For many citizens, financial literacy encompasses managing spending and budgeting money for expenses. However, as we celebrate National Financial Literacy Month, it is also essential to recognize the importance of loan repayment. Over 44 million Americans hold $1.4 trillion in student loan debt. The U.S. Department of Education offers several programs manage your loans.
- The Education Loan Consolidation Program, which helps citizens consolidate different types of student loans for easier payment management. Loan holders can apply through StudentAid.gov and are encouraged to visit Benefits.gov for additional information.
- Direct PLUS Loans are unsubsidized loans for the parents of dependent students and for graduate or professional students. PLUS Loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.
To browse a full list of programs offered through the U.S. Department of Education, visit their agency page on Benefits.gov.
Additional Resources
If you’re not sure what kind of assistance you’re looking for, take the Benefit Finder questionnaire to begin your search.
