Commerce Column 5/5/19

CHAMBER INVESTS IN VITA Once again, McDonald County shines. Listen to this: 2018 federal and state income tax and property tax credit return money, prepared at no charge by our local
VITA, totaled an unbelievable $2,591,843. We Care VITA served people from McDonald and
three other surrounding Missouri counties, using all volunteer help. Even more astounding is
to learn about the “Multiplier Effect” which converts that $2,591,843 into an incredible
$25,918,430 spent. How is this possible? Studies reveal that tax refund money rolls over 10
times in our local communities as it works its way through the various spending options:
groceries and other goods, various services, employee salaries, inventories, etc. Statistics also
show us that people helped by VITA keep none of their refund money. They need to spend all
of it, and they do. And … and this is the good part: these struggling taxpayers spend their
money mostly in their local communities. We, as local business and service owners, likely have
never realized just how much money goes into our cash registers from VITA-served low-
income and elderly taxpayers. IRS SPEC, LaQuita Hall, underscores how much our
communities and counties are economically impacted by taxpayers that VITA serves … by the
refunds they receive and spend. She applauded the McDonald County Chamber of
Commerce’s work in securing a place for taxpayers to gather, for enlisting the help of several
greeters and four tax preparers, and a site coordinator. The Chamber extends a hand of thanks
to these volunteers, and many other local businesses and professionals for their time and
energy. We look forward to getting another tax season off the ground with VITA. Again,
McDonald County shines once again.
D.Wayne Bearbower, Ambassador
McDonald County Chamber of Commerce