USI College of Business student volunteers offer free income tax help

0

USI
Through the Volunteer Income Tax Assistance Program (VITA), USI student volunteers will provide free income tax preparation on Wednesdays, February 1-April 11.

“We have a big class this year with 18 students enrolled in the program. This will allow us to help many more taxpayers this tax season,” said Brett Long, associate professor of accounting and business law. “Preparing tax returns for members of our community is a great experience for our accounting students and a real savings for taxpayers.”

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 those taxpayers who make an appointment for this service. VITA sites do 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 90 minutes to two hours to complete.

The sessions will be held by appointment only in Room 1004 in the new Business and Engineering Center on the following Wednesdays: February 1, 8, 15, 22, and 29; March 14, 21, and 28; and April 4 and 11. Appointments will be available at 5 p.m. and 6:45 p.m. on these Wednesdays.

Individuals will be required to bring their tax information, photo identification cards, and Social Security cards for themselves and their dependents. International students must bring their passports and visas as well. The IRS encourages electronic filing and returns will be filed electronically for those who are eligible.

Please bring copies of your 2010 state and federal tax returns if they are available. Your tax returns from the prior year are very helpful in preparing correct and complete current year returns. Paper returns will be prepared for those taxpayers who do not qualify for electronic filing or prefer paper returns.

To make an appointment, call the College of Business at 812/464-1718.