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
|