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MC STUDENTS AGAIN OFFER TAX ASSISTANCE

Release Date: January 21, 2002

Try as we might to avoid it, there are still two certainties in life – death and taxes. Fortunately, innovations like e-filing are making the tax process a little more bearable, and so is a program at Monmouth College – Volunteer Income Tax Assistance (VITA).

From Feb. 2 through April 13, Monmouth College student volunteers will be available on Wednesdays from 4-7 p.m. in Room 308 of the college’s McMichael Academic Hall (one building east of the main academic building, Wallace Hall) and on Saturdays from 1-4 p.m. in the Warren County Library. Due to spring and Easter breaks, those locations won’t be staffed on March 2, 6, 9 and 30. Persons wanting tax assistance should bring all related forms, including information for other income, a copy of last year’s return and Social Security cards.

In Monmouth, the VITA program is coordinated by Judy Peterson, an assistant professor of accounting, who explained that the Internal Revenue Service has provided the college with computers and software. She added that the college students who will be supply the manpower have all taken a federal tax course taught by Craig Cavanaugh of the local CPA firm Cavanaugh, Davies and Blackman.

“I have to say that we have the most wonderful accounting students – committed, bright, insightful and so professional,” praised Peterson. “They learn a great deal through this program. Tax returns take on a different bent when you’re doing them for a live person.”

At the end of the program, her students are required to write a paper that describes their experiences and provides feedback on how to improve the format for next year.

“VITA is a free service, and we also do free e-filing,” said Peterson, who added that persons wishing to e-file must bring Social Security cards for all individuals included in their tax returns. Those wishing to have their refunds directly deposited must bring a voided check.

She said that while the basic returns are perfect for her students – “The software even has a checking stage at the end of the program to make sure nothing’s been overlooked” – there are times when it’s best to consult a professional.

“Taxes involving depreciation schedules and things of that sort really need to be done with some continuity and require the same professional from year to year.”

In Peterson’s tax class, the students work on textbook cases, but she said the VITA program, which will be entering its seventh year at the college, provides “a different scenario. They get to work with real-life people’s problems, and it gives them a really good experience.”

The IRS initiated the program and Peterson said, “It’s well-organized. There’s a systematic approach to how the program runs – training, communication, documentation and leadership. The program is all over the country, and it’s a great community service.”

Released by the Office of College Communications
Barry McNamara, Associate Director of College Communications
Phone: 309-457-2117
Fax: 309-457-2330

 
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