It’s that taxing time of the year again, but University at Buffalo accounting students are again trying to make it a bit easier for those with low incomes.
IRS-certified students from UB’s School of Management will offer free tax preparation services to individuals and families with annual incomes below $50,000. The service is coordinated by the UB chapter of Beta Alpha Psi, an international honors group for accounting and finance students, with assistance from the UB Accounting Association.
The service will be offered on both the North and South campuses and is especially aimed at helping low-income taxpayers apply for federal and state earned income tax credits. That’s a refundable credit of up to $5,028 for a family with two children, and it can provide a needed jolt of cash for those who qualify.
The IRS says using such free services can save $100 to $300 in preparation fees compared with paid tax preparers.
On the South Campus, help will be offered from 10 a.m. to 4:30 p.m. Feb. 2, 3, 9, 10, 16, 17, 23 and 24 at 100 Allen Hall. On the North Campus, the service is available during the same hours March 2, 3, 30 and 31 and April 6, 7, 13 and 14 in 106 Jacobs Management Center, known as the John H. Shellum Room.
To obtain help, participants must bring government-issued proof of identification, an original Social Security card for each filer and dependent, the dates of birth for yourself, your spouse and your dependents, wage and earning statements from employers, interest and dividend statements, the total amount paid for a day care provider and the provider’s tax ID number or Social Security number, a copy of last year’s federal and state returns, and the routing and account numbers for your bank if you want direct deposit.
A list of frequently asked questions and answers, plus maps and directions, are located at http://mgt.buffalo.edu/freetaxprep. Taxpayers can email additional questions to firstname.lastname@example.org">email@example.com for a reply within 48 hours.