Students from the University of Colorado Boulder’s Leeds School of Business will offer free tax preparation services to individuals under the Internal Revenue Service-sponsored Volunteer Income Tax Assistance program.
Members of the public who make $52,000 or less are eligible for the service, now in its fifth year at the Leeds School.
The assistance will be available only on a walk-in basis Feb. 1 through April 5 on Wednesdays from 5 to 7:30 p.m. and Saturdays from 9 a.m. to 2 p.m. in the Koelbel Business Building, room 375. The building is located at 995 Regent Drive on the CU-Boulder campus, across from the Coors Events Center. Free parking is available after 5 p.m. and during the weekends at lot 436/494, located on Regent Drive north of the Coors Events Center and east of the Koelbel Business Building.
“Not only do student volunteers perform a much needed community service, but their work also is well received by potential employers,” said Susan Morley, senior instructor of accounting at the Leeds School.
Participating Leeds students have passed an IRS certification exam. Community volunteers who are experienced in tax law will review all student-prepared tax returns to ensure accuracy and completeness.
Last year, Leeds School students prepared approximately 380 tax returns and obtained more than $518,000 in refunds for taxpayers. The students also placed an extra $152,000 into the local economy through Earned Income Tax Credits for families.
Taxpayers who are eligible for the assistance should bring the following:
-- Social Security cards or Individual Taxpayer Identification Notices/Cards for the taxpayer, the taxpayer’s spouse and dependents.
-- Photo identification for the taxpayer and the taxpayer’s spouse if married and filing jointly. Both spouses must be present.
-- All W-2 and 1099 forms and other income-related documents.
-- Proof of mortgage interest, property taxes, daycare expenses (including provider’s tax ID number), college education expenses (e.g., 1098-T form) and all other applicable deductible expenses.
-- A copy of last year’s federal tax return.
-- Proof of account for direct deposit of refund (e.g., voided check).
-- Proof of foreign status if applying for ITIN.
For more information about the accounting division at CU-Boulder’s Leeds School of Business visit http://leeds.colorado.edu/accounting#overview. For more information about the Leeds School visit http://leeds.colorado.edu/.