Spring Break
Staff, Students Get Taxes Done For Free
Jennifer Warmath
Issue date: 3/22/07 Section: News
There's no gimmick or catch. Give your parents a break, put the Turbo Tax back on the shelf and have someone else do your taxes-for free.
From today until April 11, students and UConn employees need only visit the Student Union room 304B and take advantage of the Volunteer Income Tax Assistance program (VITA) hosted by Beta Alpha Psi, UConn's honors accounting, finance and management information systems (MIS) fraternity, according to an e-mail sent by Linda Petrofsky, administrative assistant for the accounting department.
"We're here. There's no catch. It's free" said Steven Lanza, a 6th-semester accounting major and VITA chairperson.
"Where else are [people] going to go?" Lanza asked. "They're going to have to go to an H&R Block and pay $150, and when you're a low-income earner … that's a lot of money to take out of your pocket."
In addition, Beta Alpha Psi's VITA program not only helps the university community save time and money, but also helps members gain experience and a sense of philanthropy.
"We make sure the deductions are properly recorded and assist [students and employees] in getting the refunds they need," said Karen Gitto, an 8th-semester accounting major and president of Beta Alpha Psi. "We also make sure they follow the filing procedure to avoid late fees and audits by the IRS. While we utilize the skills we've learned in our tax accounting classes, we learn about the benefit of philanthropy while obtaining valuable experiences in preparing others' taxes."
No need to worry-the students doing the taxes are well prepared. To be allowed to handle the income taxes, students who are members of Beta Alpha Psi must have taken accounting 260: federal income taxes, and attended a two-hour VITA training session led by tax staff and accounting 260 professors, according to Lanza.
The opportunity is available to any UConn employee, faculty or student who is a U.S. resident earning gross annual income under $20,000, or married couples with combined gross income less than $40,000, according to the e-mail sent by Petrofsky.
Individuals who are self-employed, own securities or individual retirement accounts (IRAs), or are international students who have resided in Connecticut for less than five years do not qualify for the service.
For those who qualify, the VITA program has been very popular in the past, especially for those who are unaware of the constantly changing and often confusing tax laws, according to Gitto.
From today until April 11, students and UConn employees need only visit the Student Union room 304B and take advantage of the Volunteer Income Tax Assistance program (VITA) hosted by Beta Alpha Psi, UConn's honors accounting, finance and management information systems (MIS) fraternity, according to an e-mail sent by Linda Petrofsky, administrative assistant for the accounting department.
"We're here. There's no catch. It's free" said Steven Lanza, a 6th-semester accounting major and VITA chairperson.
"Where else are [people] going to go?" Lanza asked. "They're going to have to go to an H&R Block and pay $150, and when you're a low-income earner … that's a lot of money to take out of your pocket."
In addition, Beta Alpha Psi's VITA program not only helps the university community save time and money, but also helps members gain experience and a sense of philanthropy.
"We make sure the deductions are properly recorded and assist [students and employees] in getting the refunds they need," said Karen Gitto, an 8th-semester accounting major and president of Beta Alpha Psi. "We also make sure they follow the filing procedure to avoid late fees and audits by the IRS. While we utilize the skills we've learned in our tax accounting classes, we learn about the benefit of philanthropy while obtaining valuable experiences in preparing others' taxes."
No need to worry-the students doing the taxes are well prepared. To be allowed to handle the income taxes, students who are members of Beta Alpha Psi must have taken accounting 260: federal income taxes, and attended a two-hour VITA training session led by tax staff and accounting 260 professors, according to Lanza.
The opportunity is available to any UConn employee, faculty or student who is a U.S. resident earning gross annual income under $20,000, or married couples with combined gross income less than $40,000, according to the e-mail sent by Petrofsky.
Individuals who are self-employed, own securities or individual retirement accounts (IRAs), or are international students who have resided in Connecticut for less than five years do not qualify for the service.
For those who qualify, the VITA program has been very popular in the past, especially for those who are unaware of the constantly changing and often confusing tax laws, according to Gitto.
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