Date: Feb. 3, 2012
Contact: Carol Connelly, Director, Media & Communication Services, ext. 5267, cconnelly@pnc.edu

PNC Accounting Students Offer Free Tax Service

WESTVILLE - Students from Purdue University North Central tax and accounting classes are again offering free assistance to the public in preparing federal and state income tax returns. This program is designed to provide basic income tax return preparation to individuals with low to moderate incomes, individuals with disabilities, and the elderly.

Help will be available from 9:30 a.m. to 12:30 p.m. on all Saturdays from February 18 through March 31, except March 10. The service will be offered in Room 171 of the Technology Building on the PNC campus. Appointments are required. Walk-ins will not be accommodated unless free time is available at the time a taxpayer arrives. A very limited amount of walk-in time is expected, therefore appointments must be requested. Due to a recent IRS change, this year tax returns can now be prepared for taxpayers who need to file an Indiana Return, but are not required to file a federal tax return (state only returns).

This is the 23 nd year that PNC has participated in the Internal Revenue Service's Volunteer Income Tax Assistance (VITA) program, which offers free filing help to individuals and families with Gross Incomes of $48,000 or less. Gross Income is defined as income from all sources. Tax Returns will be prepared for income from wages, salaries, tips, pensions, ordinary interest, dividends, unemployment compensation, or Social Security benefits.

Thomas Holets, continuing lecturer of Accounting and coordinator of the PNC program, said the student VITA volunteers are prepared to help with basic returns, including the 1040, 1040A, 1040 EZ, and the Indiana IT-40. Returns which include interest and dividend income, itemized deductions, Earned Income Credit (EIC), and basic stock and bond transactions will also be prepared. Taxpayers are expected to participate in the IRS e-file program, unless there is a technical reason which prevents e-filing. E-filing (electronic filing) is preferred by the IRS. It is free, quick, and much more secure than paper filing.

The volunteer tax preparers have completed 12 credit hours in accounting, including at least one tax course at Purdue North Central, and passed a rigorous IRS examination on tax rules and filing procedures.

The tax preparation services offered are:

•  Form 1040 with Schedules A, B, D, EIC, & R

•  Form 2441 (Child and Dependent Care Credit)

•  Form 8863 (Educational Credits)

•  Child Tax Credit and Form 8812 (Additional Child Tax Credit)

•  Indiana Tax Forms including Unified Tax Credit for the Elderly (SC—40)

Forms that will not be prepared are:

•  Schedule C (Profit & Loss from Self-Employment Business—Form 1099-Misc)

•  Complicated & Advanced Schedule D (Capital Gains & Losses)

•  Schedule E (Rents & Losses)

•  Form 2106 (Employee Business Expenses)

•  Form 3909 (Moving)

•  Form 8606 (Non-deductible IRA)

•  Form 8615 (Minor's Investment Income)

•  Illinois or Michigan Tax Returns

Taxpayers are requested to bring the following to their tax preparation appointment:

•  1. Valid Picture ID (REQUIRED) (Driver License Suggested)

•  2. Copies of ALL W-2, 1099 Forms, Interest Income statements and proof of other income received by taxpayer & spouse.

•  3. Social Security Card (required) or Tax Identification Card (TIN) for taxpayer, spouse, and any other persons on the return (including children).

•  4. A copy of last year's federal & state tax returns (if available).

•  5. If a direct deposit is desired - bring a voided check with bank account numbers on it.

•  6. The amount of property tax paid or amount of rent paid, & landlords name/address.

•  7. If daycare is paid during the year, bring a statement from the daycare provider showing the providers name, address, identification number and amount paid.

•  8. If filing a joint return, both taxpayer and spouse must be present to sign the return when a return is e-filed.

To schedule an appointment, contact the Department of Business and Leadership at 785-5200, ext. 5559 and leave a message, including name and telephone number. A return call will confirm the appointment.