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UB School of Management students offer free tax preparation services

Wed, Jan 15th 2020 03:10 pm

By the University at Buffalo

IRS-certified accounting students from the University at Buffalo School of Management will again provide free tax preparation services to individuals and families with annual incomes below $56,000.

Area residents and students are encouraged to take advantage of this opportunity, which will be held on UB’s 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. 8, 9, 15, 16, 22, 23, 29 and March 1, 7, and 8.

•North Campus, 110 Jacobs Management Center, on March 29, April 4, 5, 11 and 12.

Latest recommended arrival time is 3 p.m.

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; and
  • 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.

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

Note: Tax preparation for nonresident aliens requires special processing that is beyond the scope of the services provided by Beta Alpha Psi. UB international students on a nonimmigrant visa may be eligible to use Sprintax to file their taxes.

The UB School of Management is recognized for its emphasis on real-world learning, community and economic impact, and the global perspective of its faculty, students and alumni. The school also has been ranked by Bloomberg Businessweek, Forbes and U.S. News & World Report for the quality of its programs and the return on investment it provides its graduates.

For more information about the UB School of Management, visit mgt.buffalo.edu.

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