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MC’s VITA students to be part of Super Saturday

Release Date: March 19, 2008

MONMOUTH, Ill. — The Internal Revenue Service has designated March 29 as Super Saturday in order to raise awareness about the economic stimulus payment that many Americans will receive starting in May.

Monmouth College’s Volunteer Income Tax Assistance (VITA) students will participate in the event, providing free tax assistance at two locations that day. They will be at the Galesburg Public Library, 40 E. Simmons St., from 9-11:30 a.m. and at the Warren County Public Library, 60 Public Square, Monmouth, from 1 to 4 p.m.

In addition to March 29, VITA students will staff the library locations on April 5 and 12 at the same times. Free tax preparation sessions will also be available March 19 and 26 and April 2, 7, 9 and 14, from 4-7 p.m. at Monmouth College’s McMichael Academic Hall, Room 308.

In order to receive the stimulus payment, taxpayers must file a 2007 tax return with a valid Social Security number that indicates at least $3,000 of at least one of the following: 1) earned income; 2) Social Security benefits; 3) certain veterans benefits; 4) nontaxable combat pay.

"For those of you who normally would not need to file, but meet one of the criteria above to receive the stimulus payment, the Monmouth College VITA students have been instructed how to prepare your 2007 tax return," said accounting professor Judy Peterson, who coordinates the program at Monmouth. "If you indicate bank checking or savings information on this return, your stimulus payment will be direct deposited to that account. Otherwise, you will receive a check. In most cases, the payment will equal the amount of tax liability on the tax return, with a minimum of $300 and a maximum of $600 for individual filers and a minimum of $600 and a maximum of $1,200 maximum for joint filers."

For those who have adjusted gross incomes above $75,000 for individual filers and $150,000 for joint filers, the payment will be phased out. Also, those who have a qualifying child will be eligible for an additional $300 per child. Dependents are not eligible for the stimulus payment.

In other VITA news, Peterson said her students are available if a retirement home or assisted living facility would like them to come on site to help seniors prepare their 2007 return. To schedule such an appointment, contact Peterson at 309-457-2365.

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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