Monday, January 28, 2008
College of Business student volunteers offer free tax help
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USI senior accounting students provide annual free tax assistance through the USI College of Business Volunteer Income Tax Assistance Program (VITA), In VITA programs, the Internal Revenue Service partners with national and local organizations to provide tax services to individuals with low-to-moderate income at no cost to the taxpayer. Accounting students will interview and prepare the taxes of other students and relatively low-income taxpayers who make an appointment for this service. This site will not prepare Schedule C business forms or Schedule E rental forms. Your federal and state tax returns are prepared while you wait and all taxpayers must be available to sign their returns. Preparation of returns typically takes up to two hours to complete. This year, tax help will be available at 5 p.m. and 6:45 p.m. on Wednesdays starting February 6 by appointment only. The sessions will be held in Room 2039 in the Orr Center on the following Wednesdays: February 6, 13, 20, 27; March 5, 19, 26; and April 2 and 9. No appointments will be available on Wednesday, March 12 during Spring Recess. "This is a good opportunity for people who have reasonably simple income tax returns and want to avoid having to pay for professional tax preparation services," said Brett Long, associate professor of accounting and business law. “It is also a great experience for our accounting students.” Long said the students ordinarily prepare 100 to 150 tax returns each year. Individuals are required to bring tax information, photo identification cards, Social Security cards for themselves and their dependents, and copies of 2006 tax returns if they are available. The IRS encourages electronic filing and returns will be filed electronically for those who are eligible. Paper returns will be prepared for those taxpayers who do not qualify for electronic filing. To make an appointment, call the College of Business at 812/464-1718. |
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