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 15 through March 29, except March 15. 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 25nd 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 $52,000 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 include:
Form 1040 with Schedules A, B, EIC, D, & R
Form 2441 (Child and Dependent Care Credit)
Form 8863 (Educational Credits)
Form 8812 (Additional Child Tax Credit)
Forms that wil not be prepared are:
Schedule C (Profit & Loss from Business) (Example Cosmetic Sales or Other Self-Employment)
Complicated & Advanced Schedule D (i.e. Capital Gains & Losses on portfolio Stock Sales)
Schedule E (Rents & Losses)
Schedule F (Farm Income or Income from Rental of Farm Property)
Form 2106 (Employee Business Expenses)
Form 3909 (Moving)
Form 8606 (Non-deductible IRA)
Form 8615 (Minor’s Investment Income)
Form SS-5 (Request for Social Security Number)
Returns for taxpayers that are on active Military Duty
Injured or Innocent Spouse Returns
Cancellation of Debt
Health or Medical Savings Accounts (W-2 Box 12 Code W or W-2 Box 12 Code R). Help may be offered with these Health Savings accounts later in the season. Please call to ask for a call back if this type of return is offered later in the season. If offered, this type of return would become available early in March.
Students do not prepare self-employment returns (no Schedule C, Schedule SE) this type of income is often reported to on FORM 1099-MISC.
To request an appointment, call the PNC Business Department at 219-785-5559 and leave your name and telephone number. Return calls to schedule appointments will be made beginning the first week of February.
Anyone who does not intend to keep the appointment noted on their reminder letter should notify Cecilia Kajer at 785-5263 prior to 1 p.m. on the Friday prior to the appointment.