Oklahoma City University News
OCU Students Provide Free Tax Preparation Services
OKLAHOMA CITY — Oklahoma City University students have generated about $100,000 in federal refunds for local residents so far during this year’s Volunteer Income Tax Assistance program. The program will continue on Fridays and Saturdays through the end of the month.
Students from OCU’s Meinders School of Business and School of Law have partnered with United Way and the IRS to offer the program, which provides free state and federal tax return preparation and free efiling. Clients must have an income of roughly $56,000 or less to qualify for assistance, resided in Oklahoma for the entire year of 2009, have no capital gains or losses and have no net losses or self-employed expenses exceeding $5,000.
“This is a service that fits our theme of servant leadership at Oklahoma City University,” said Beth Stetson, JD, PhD, assistant professor of accounting at OCU. “This is a way to help the community and give students real working experience in a professional environment with clients.”
About 20 business and law students are participating. OCU law student Dana Blake is co-coordinating the program.
Local residents qualifying for assistance can receive help from 8 a.m. to 2 p.m. Fridays and 10 a.m. to 2 p.m. Saturdays through Feb. 27. Students plan to reopen the program for a few days in April prior to the filing deadline on the 15th.
To prepare a return, volunteers will need a client’s social security card, driver’s license, W2s, 1099s, social security statements, unemployment statements, interest and dividend statements from banks, mortgage statements, receipts for real estate taxes paid, statements of charitable contributions, receipt for day care expenses including the name, address and social security number or employer id number of the child care provider, receipts for education expenses or Form 1098-T from a college or university and social security cards and dates of birth for every person on the tax return. Those who purchased a new car or home in 2009 should bring information with them about the purchase price and taxes paid. Additionally, anyone claiming children who do not live with them on their tax return must bring an IRS or court document giving them permission for the claim.
Tax preparation services will be provided at United Way, 1444 N.W. 28th St, one block north of the Meinders School of Business.