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WC’s Free Tax Preparation Site Expects to Hit 100 Returns on Eve of Spring Break

Business Administration
2017 Record Broken. Century Milestone on Tap Tonight With more than a month remaining in the 2018 tax season, Wilmington College’s students eclipsed last year’s record of completed returns and expect to hit the 100 milestone tonight (March 8) before they leave for Spring Break. PICTURED: Seniors Tara Karnes (RIGHT) and Tabby Williamson look over a tax return before approving it for filing. Tara is the student site coordinator again this year. Since Jan. 30, they have counseled, prepared and filed 95 tax returns with eight appointments scheduled for this evening. The students exceeded 2017’s record 82 returns on March 1. Allen Beatty, assistant professor of accounting and an IRS Enrolled Agent/site manager, said Wilmington College students are performing a valuable service for the community while gaining hands-on experience. “I can't express enough the gratitude I have for these students,” he said, noting he’s learned that many college sites are offering significantly scaled down services when compared to Wilmington College’s operation. Indeed, some are only open a few weeks of the season and serve as counseling-only sites, or the students participate solely because they are required for a college tax course. “Our students do it purely for learning and providing service to our community!” The 12 IRS-certified, volunteer tax preparers are offering this service as part of the Internal Revenue Service’s Volunteer Income Tax Assistance program (VITA). Wilmington College is a VITA site that provides tax help to persons of low and moderate income who, generally, make less than $54,000, as well as taxpayers with disabilities or with limited English-speaking skills. The IRS awarded WC’s service, which provides students with hands-on learning opportunities, a perfect 100 percent rating. Beatty said the students’ experience far exceeds simply the numbers placed on tax returns. “They have learned so much — not just in preparation, but in many other ways,” he said. “Our students have learned to be compassionate with persons with various disabilities, those returning to society after incarceration, taxpayers who are anxious in obtaining refunds and those who are distraught upon learning they owe.” WC’s VITA site will be closed during the College’s Spring Break, March 12-16, and will reopen with special Monday hours, 1 to 3 p.m., March 19. Normal hours of operation are Tuesday and Thursday evenings, from 5 to 8 p.m., through April 12, and on Saturday, March 24, from 9 a.m. to noon. Sessions are held in WC’s Center for the Sciences and Agriculture, corner of College and Elm streets. The students provide basic income tax return preparation with electronic filing to qualified individuals. This service generally includes basic returns of wage earners (W-2) and retirees (1099-R and Social Security), who might also have such additional forms of income as interest, dividends (1099-INT, DIV) and unemployment (1099-G). Preparation of a limited amount of itemized returns (Schedule A with home mortgage, interest, charitable contributions, medical expenses, etc.) also is available, along with those featuring such popular credits as Child Tax Credit, Earned Income Credit, Retirement Savers Credit, etc. Also, this year, the students are able to work with taxpayers claiming capital gains and losses, and those with self-employment income. Those interested in scheduling an appointment should contact Tara Karnes at (937) 763-9932 or tkarnes@wilmington.edu.