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Purdue students offer free tax return assistance

January 24, 2011

Students from Purdue University North Central tax and accounting classes are offering free help to the public in preparing federal and state income tax returns. The program, in its 20th year, is intended to provide basic income tax preparation to people with low to moderate incomes, those with disabilities and the elderly.

The service is part of the Internal Revenue Service’s Volunteer Income Tax Assistance program, which offers help to individuals and families with gross incomes of $42,000 or less. Income must come from wages, salaries, tips, pensions, ordinary interest, dividends, unemployment compensation or Social Security benefits.

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

Assistance is available by appointment on the Purdue North Central campus from 9:30 a.m. to 12:30 p.m. on all Saturdays from Feb. 21-April 4, expect March 14.

The returns volunteers will prepare include:
•    Form 1040 with Schedules A, B, EIC, & R

•    Form 2441 (Child and Dependent Care Credit)

•    Form 8863 (Educational Credits)

•    Form 8812 (Additional Child Tax Credit)

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

Forms that will not be prepared:

•    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)

For more information on the program, including contact information, visit the university Web site.

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