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Accounting students provide free tax prep
February 25, 2004

Students in Accounting Professor Henry Norton's Volunteer Income Tax Assistance (VITA) course are getting real-world experience by preparing tax returns for individuals and families meeting income limits.

"It's one of the real experiential classes we have in the Accounting Department," Norton said. "Students develop client skills and learn what questions to ask."

It's a big step from the prerequisite Income Tax I course where much of the class consists of reading the federal tax code.

Metro's VITA class is affiliated with the Denver Asset Building Coalition, a group of community-based nonprofit, government and private organizations. Through the Internal Revenue Service's VITA program, the coalition is providing free tax preparation as well as financial education and financial services to low-income individuals and families.

Metro students spend the first portion of the class working on IRS preparation workbooks. As of last week, the students were working in the field, actually preparing tax returns at one of two locations, Tivoli Student Union or the Emily Griffith Opportunity School.

Norton estimates that the class - limited to 14 students - prepares 15 to 20 tax returns a week between mid-February and mid-April. "Each student will complete between 40 and 60 returns over the course of the semester," Norton said. This year, the students are preparing and submitting the tax returns electronically using laptops and software provided by the IRS.

The returns are fairly simple - no itemization of deductions and no special schedules. "But they're still dealing with real families and individuals with real issues," Norton said.

"Not only do the students gain experience with the tax law they've learned about previously, but they also perform an important service to the community."

NOTE:

Free tax preparation is available to individuals or families with annual incomes of $35,000 or less.

The Metro students are assisting people through April 14 on Saturdays, 10 a.m.- 2 p.m., in the Tivoli Student Union, Roger Braun Lounge. Assistance is also available on Wednesdays, 5:30-9 p.m. at Emily Griffith Opportunity School, 1250 Welton, in the Library Media Center, room 327. There are no sessions the week of March 15-21, which is Spring Break.

For additional locations, times and information on what to bring call 303-83-CALL-7.



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