CARBONDALE, Ill. — Have you started your taxes?
Now, there's some free help. Students at Southern Illinois University Carbondale plan to offer free income tax assistance to low- and moderate-income community members.
The honors accounting student organization Beta Alpha Psi is part of the SIU College of Business and Analytics. It's sponsoring the program called Volunteer Income Tax Assistance (VITA).
It gives accounting students hands-on learning experience while offering a helping hand.
According to Benna Williams, a School of Accountancy lecturer and former tax practitioner who serves as the Beta Alpha Psi adviser, SIU students have offered this free tax preparation for nearly a quarter of a century.
The program begins Feb. 26 at the SIU campus in Carbondale and runs every Saturday through April 2. However, no services will be available March 5 and March 12 due to spring break.
Students will be available to help you prepare your taxes from 9 a.m.-1 p.m. in the computer lab on the lower level of Rehn Hall, which is located at 1025 Lincoln Drive in Carbondale.
This service is available on a first-come, first-served basis. Those who arrive late in the morning or at exceptionally busy times may be asked to return later or the following week if necessary to allow sufficient time for the tax preparation.
Free e-filing is included with the tax preparation.
Note that when married couples are filing a joint return, both must be present to sign the required forms.
You will be required to wear a mask.
The free tax preparation services are available to any U.S. citizen, whether single or married, as long as their income does not exceed $58,000, and they take the standard federal deduction.
Who is eligible
The students will prepare tax returns that involve:
- Wages/salaries
- Interest income
- Dividends received
- State tax refunds
- Unemployment benefits
- IRA distributions
- Pension income
- Social Security benefits
- Simple capital gains or losses
- Self-employment income
- Gambling winnings
- Education credits
- Earned income credit
- Child tax credit
- Limited itemized deductions
Unfortunately, the VITA students will not be able to prepare tax returns for people who are not U.S. citizens or tax returns that involve:
- Schedule C with losses
- Complicated capital gains and losses (Schedule D)
- Nondeductible IRA (Form 8606)
- Minor’s investment income (Form 8615)
- Determination of worker status for purposes of federal employment taxes and income tax withholding (Form SS-8)
- Premium tax credits (Parts 4 and 5 of Form 8962)
- Foreign returns
Checklist of items to bring
In order to take advantage of the free tax preparation, people should bring all of the necessary documents. That includes legal identification, such as a driver’s license, passport or state ID, along with Social Security cards and birth dates (for spouse and dependents, if applicable as well).
In addition, bring all necessary tax documents, including all official wage, earning, interest and dividend statements and copies of the previous year’s state and federal tax returns, if available. Those claiming child care credits will need to bring the day care provider’s tax identification number (either Social Security number or business employer identification number) and amount paid for child care.
Participants should also bring Letter 6419, which provides information about any Advance Child Tax Credit payments they may have received, if applicable. Williams also noted that people should check to ensure they received the third Economic Impact Payment (commonly referred to as a stimulus check) that was issued beginning in March 2021.
Failure to provide all of this information could result in the VITA students being unable to complete and file the return on-site and/or the payment of any income tax refund being delayed or hindered, Williams said. In addition, bring a blank check or other proof of bank account routing and account numbers for direct deposit if you anticipate receiving a tax refund.
For more information, email vita@business.siu.edu or call 618-453-1407.