Management students offer free tax preparation services

IRS-certified accounting students from the School of Management will again provide free tax preparation services to individuals and families with annual incomes below $54,000.

Area residents and students are encouraged to take advantage of this opportunity, which will be held on the North and South campuses. The IRS estimates that using such free services can save taxpayers $100 to $300 in preparation fees.   

This service can be especially valuable to low-income tax filers by helping them apply for earned income tax credits that can provide a needed boost in annual income. The tax credits, which can reduce or eliminate income taxes by refunding taxes already withheld from wages, can mean as much as $5,028 for a family with two children.

Free tax preparation will be offered from 9:30 a.m. to 4:30 p.m. on a first-come, first-served basis as follows:

• South Campus, 403 Hayes Hall, on Feb. 10, 11, 17, 18, 24 and 25, and March 3, 4, 10 and 11.
• North Campus, 112 Jacobs Management Center, on March 31, and April 1, 7, 8, 14 and 15.

Participants must bring the following:

• Proof of identification (state-issued photo ID for each adult, such as valid driver’s license or state-issued ID card).
• Original Social Security card for each filer and dependent (not a photocopy).
• If married filing a joint return, both spouses must be present to sign the required forms.
• Date of birth for self, spouse and dependents.
• Wage and earning statements (Forms W-2 and 1099) from all employers.
• Interest and dividend statements (Form 1099).
• Forms 1095-A, B or C (Affordable Health Care Act Statements).
• Total paid for day care provider and provider’s tax ID number or Social Security number.
• A copy of last year’s federal and state tax returns, if available.
• Bank routing numbers and account numbers for direct deposit.

The tax service is provided by the IRS-sponsored Volunteer Income Tax Assistance (VITA) program with volunteers from the UB chapter of Beta Alpha Psi, an international honors organization for accounting and finance students, with help from the UB Accounting Association.

A limited number of self-service computer stations with tax preparation software will be available for individuals who wish to prepare their own returns.

Frequently asked questions, maps and directions can be found online. For additional questions, send an email to mgt-freetaxprep@buffalo.edu, and a student volunteer will reply within two business days.

Note that tax preparation for nonresident aliens requires special processing beyond the scope of services provided by Beta Alpha Psi. UB international students on a nonimmigrant visa should visit the International Student and Scholar Services website for more information.