Network Update

August 2023

Dear Network Member,

We are so excited about the upcoming release of our Innovations Briefs. In partnership with ProsperityNow, the Tax Equity Funders Network has been working with network members and field leaders for the past year to identify and write about innovative strategies that can help to maximize the number of individuals and families who have access to tax credits and non-predatory tax preparation services. Six briefs have been written by field experts and answer the question: What are innovations that would dramatically improve the ability of low- and moderate-income taxpayers to access all the tax benefits there are eligible for?

Programming will be offered on September 12th and 27th, and throughout the Fall to share the recommendations and strategize about next steps. You can register for the September sessions by visiting the registration page on our website. We can't wait to share these great ideas with all of you.

Keep an eye on your email for a copy of the publication and invitations to upcoming sessions and meetings. Thank you for your continued commitment to this work!

News, Reports & Research

Article: Democratic members of Congress praised the Internal Revenue Service Monday morning for its work in developing a free direct-file tax pilot program for the 2024 tax season. Read the article from Business Insider here

Article: More states are stepping up, and on a bipartisan basis. The 2021 expanded federal CTC provided families with economic stability and acted as a tax credit model for states wanting to create, expand, or improve state-level CTCs following the federal CTC expansion’s expiration. Read the article from Vox here

Article: The IRS collected $38 million in delinquent taxes from more than 175 high-income taxpayers in recent months. Read the article from AP here

Blog Post: In 2023, 18 states established or improved upon a state CTC or EITC. Currently, 14 states have a state CTC and 31 states, in addition to Washington D.C. and Puerto Rico, have adopted Earned Income Tax Credits. Read the blog post from the Center on Budget and Policy Priorities here

New Tool Alert: The $2,000 Child Tax Credit has been the subject of frequent debate and modification. Want to help shape policy and share your results with policymakers? The Committee for a Responsible Federal Budget has created a tool that will analyze data from users to identify trends and preferences and provide that analysis to policymakers. The Build Your Own Child Tax Credit tool allows users to design their own modifications to the child tax credit and understand the budgetary costs. Design your own plan here.

Tax Credit WINS in States

(OREGON) Article: Low-income Oregon families will be eligible for a new $1,000 tax credit for young children under a bill signed by Gov. Tina Kotek. It creates a state-level credit on top of the federal child tax credit, which is up to $2000 for each child under the age of 18. Read the article from Bloomberg Tax here

Website Feature- Sample Strategies for Foundations

Are you wondering about how tax equity and access to tax credits connects to your organization's grantmaking strategy? Do you want to learn more about funding strategies used by other foundations around the country? Are you interested in new ways to talk about this work with your team and board?

Visit our Sample Strategies for Foundations page to get helpful information that can assist you with your internal and strategic grantmaking conversations.

Visit Our Website

Network and Partner Events

Housing Insecurity is an Economics Problem:

Connecting Economic and Housing Justice

September 7, 2023 | 3:00-4:00 PM ET | ZOOM

After many consecutive years of decline, homelessness has been on the rise across the country, with particular increases of people living unsheltered. Countless more in the US are just one financial crisis away from losing their housing as the cost of rent skyrockets in most communities. These are our neighbors. This is us.

In this webinar cohosted by Economic Opportunity Funders, Tax Equity Funders Network, Funders for Housing and Opportunity, and Funders Together to End Homelessness, we will situate the homelessness and affordable housing crises in the context of economic justice. We will connect the dots between advocacy on financial security and housing stability, highlighting promising interventions like direct cash transfers and universal rental assistance, with an eye toward prevention of homelessness. Our goal is that economic opportunity and tax equity funders see how the housing crisis pertains to all of us, leaving the conversation with concrete ideas for deeper learning and action.

Innovations to Improve Access & Build a More Equitable Tax System: Briefs Release and Funder Strategy Session

September 12, 2023 | 2:00-3:00 PM ET | ZOOM

September 27, 2023 | 2:00-3:30 PM ET | ZOOM

Join the Tax Equity Funders Network and Prosperity Now for the release of a set of briefs written by field leaders–Shaping the Future: Innovations to Improve Access & Build a More Equitable Tax System–that offer innovative and provocative strategies to improve access to tax credits and tax systems. Join the Tax Equity Funders Network for a 2-session series to learn about these significant, future-focused ideas that could transform how families access tax credits and receive economic support, and participate in a strategy session to outline action steps.

Session I (Sept 12th)- In this session, attendees will learn more about each innovation listed in our newly released set of briefs by field leaders and specific calls to action from the brief writers. There will be time for Q&A.

Session II (Sept 27th)- This session will take a deeper dive into two future-focused innovations that could significantly impact low-income taxpayers–using AI to file taxes and the implementation of pre-populated tax forms. Attendees will have an opportunity to delve deeper into these innovations, discuss implementation opportunities and challenges, and strategize with like-minded funders to outline action steps.

Participation in this meeting is limited to staff

of philanthropic organizations and philanthropic advisors.

Call to Action!

Tell a Colleague About Us- We are always looking to welcome new members to the network. Please share our registration form with anyone you think could benefit from membership in the network.
Member Spotlight- We are looking for organizations to feature in our new Member Spotlight. Please complete this form to share your information with us for our Member Spotlight feature. Someone from our team will be in touch with you to finalize your submission before it is posted to our website.
Sharing Across the Network- We would love to share announcements, updates, funding opportunities, job postings or other information you have that could benefit other network members or their grantees. Please use the email Ami (ami@taxequityfunders) or use the contact form on our website to share information with us.

The Tax Equity Funders Network

is generously supported by:

Blue Shield of California Foundation

The Annie E. Casey Foundation

W.K. Kellogg Foundation

Wellspring Philanthropic Fund