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MC students again offer free income tax assistance

Release Date: January , 2004

MC Students in the VITA Program.MONMOUTH, Ill. — 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) – which provides tax preparation and e-filing free of charge.

From Feb. 4 through April 15, Monmouth College student volunteers will be available on Wednesdays and Thursdays 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 break at the college, those locations won’t be staffed on March 6, 10, 11 and 13.

Monmouth’s VITA program is coordinated by Judy Peterson, associate professor of accounting, who explained that the Internal Revenue Service has provided the college with computers, software and training. She added that the college students who will staff the program have all taken the college’s federal tax course and have passed the IRS certification exam.

“Last year we surveyed our participants,” said Peterson. “Ninety-eight percent of those completing the survey were satisfied with the services provided by VITA. The college has provided the program with a third computer this fall. Therefore, the waiting time should be reduced this year. One hundred percent of those completing the survey stated they would use the service again and would recommend the service to a friend.”

“It is obvious that she and her students are doing a great job,” said college president Richard Giese. “This program continues to thrive under her leadership.”

“The new thing we did in 2003 was transmit our own returns,” said Peterson. “The three years before, we prepared the returns for filing and then Springfield transmitted them. This year, we did the entire process. Taxpayers typically got their refunds in about a week. It worked like a charm, with no problems whatsoever.”

Both the federal and state IRS education personnel who have been on campus conducting workshops on the use of the software and changes in the tax laws stressed the benefits of e-filing. It reduces errors and speeds up the processing of the return by a significant amount of time, especially at the state level.

“The students are eager to get started. They are very committed to providing excellent service to the community,” said Peterson. “Some of the students are returning for their second year. They know they learn a great deal through this program. Tax returns take on a different bent when you’re doing them for a live person. In the tax class, students work on textbook cases, but the VITA program, which will be entering its eighth year at the college (third year for e-filing) provides something you just cannot duplicate in the classroom.

“Some of our previous clients are now filing on their own through free services on the Web which are available to those with low incomes and easy returns,” added Peterson. “This is good, as one of our goals is to not only provide support to taxpayers, but to educate them about their taxes.”

Peterson said that while students do an excellent job with basic returns– “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 a business and rental property and things of that sort really need to be done with some continuity and are best monitored by the same professional from year to year,” she concluded.

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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