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Latest News: Action Alerts

AmeriCorps Alums Seeks Alumni Support To Eliminate Ed Award Tax

Wednesday, July 02, 2008   (0 Comments)
Posted by: Greg Heinrich
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AmeriCorps Alums is seeking member support to help pass H.R. 6407, the Segal AmeriCorps Education Award Tax Relief Act.  On Thursday, July 3, 2008 from 8PM - 9PM Eastern time, AmeriCorps Alums will host a web-based training and conference call for those alumni interested in leading this effort from a grassroots level.  Grassroots engagement will be a critical component to the success of this effort.  If you are interested in helping to lead this effort in your area, click here  for more details or to register for our online training and conference call.  This call will focus on how to effectively connect with your Congresspersons about H.R. 6407.  Register here.
 
As you consider this opporunity, also consider this: the table below illustrates the current financial burden facing tens of thousands of alumni each year.  By participating in the effort to pass H.R. 6407, you may save yourself hundreds of dollars on upcoming tax bills (if you have not already expended your Segal AmeriCorps Education Award), and you will most certainly help save future alumni hundreds of dollars on their future tax bills.  We hope you will decide to help lead the effort to pass H.R. 6407- NOW is the time!  Get engaged today!
 
Taxation of the Education Award And Its Financial Impact On Alumni
                                               Individual Tax Obligation by Tax Bracket
Hours Served
Amount Awarded
10%
15%
25%
28%
33%
35%
1700
$4725.00
$472.50
$708.75
$1181.25
$1323.00
$1559.25
$1653.75
900
$2362.50
$236.25
$354.38
$590.63
$661.50
$779.63
$826.88
675
$1800.00
$180.00
$270.00
$450.00
$504.00
$594.00
$630.00
450
$1250.00
$125.00
$187.50
$312.50
$350.00
$412.50
$437.50
300
$1000.00
$100.00
$150.00
$250.00
$280.00
$330.00
$350.00

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