February 4, 2008
 WHERE: Temple University Ambler,
580 Meetinghouse Road, Learning Center
WHEN: Saturdays, February 23 through April 5, 9 a.m. to Noon
It’s a time many of us dread — tax time is upon us. Wending through the complex maze of federal, state, and local tax preparation is a yearly ritual that most families would probably like to avoid if they could.
While many of us will simply pop in the latest version of TurboTax, visit a local tax preparation service, or call up an accountant, there are many families, individuals, and students that simply can’t depend on those luxuries for the assistance and guidance.
For 2008, the Temple University Ambler Accounting Professional Society, supported by campus faculty and additional volunteers, will provide the federal and state tax preparation help that many low-to-moderate income families might need.
Nearly every Saturday, from now through April 5, Volunteer Tax Assistors — many of them trained and certified students — will be available at the Ambler Campus Learning Center, from 9 a.m. to Noon, to offer free tax preparation assistance through the VITA (Volunteer Income Tax Assistance) program.
“VITA is a program for those with low-to-moderate incomes. If a family’s income is less than $40,000 they are eligible for this program,” said Temple University Accounting Professor Steven Balsam, who also advises the Ambler Accounting Professional Society. “Certainly Temple University students and students throughout the region in need of tax preparation assistance are also invited to take advantage of this special program. Our Volunteer Tax Assistors can also help students and community members in claiming any special credits and deductions for which they may be eligible. ”
 According to Balsam, Ambler’s participation in the VITA program was entirely a student initiative.
“They had heard about the program and were very interested in participating. The VITA program also helps raise awareness about the Earned Income Tax Credit, the Child Tax Credit, and other important issues that people getting ready for tax time might not be aware of,” he said. “It’s certainly a valuable service for the public. Whereas it might cost $100 for tax preparation elsewhere, here they are able to get the help they need for free.”
Additional volunteers are welcome, Balsam said. To qualify, potential Volunteer Tax Assistors must learn how to use the proper software and develop a good understanding of the federal tax code to be certified by the IRS as a VITA volunteer.
Michelle Navitsky, an Accounting Senior and VITA coordinator said for the students, participation “is a nice way to give back to the community and a great learning experience.”
“The initial training class was fun — I had no familiarity with the tax software going in. It took some time, but I think it was well worth it,” she said. “I’m able to practically apply concepts that I’ve been learning in the classroom.”
Bryan Castrantas, a senior Accounting and Finance major who is also helping to coordinate the program, equated navigating the tax law for many families who have no familiarity with it to “trying to get through a funhouse maze.”
 “There’s one entrance, and one exit, but there’s so many different paths to get there. Sometimes you go in circles, sometimes you hit dead ends,” he said. “Many people don't have the resources — such as time and money — to properly prepare their own returns and that’s where we come in. We have several students and faculty members involved, as well as CPAs from local firms who will be donating their time and expertise to the program.”
The goal of the VITA program at Ambler, Castrantas said, “is to take away some of the stresses of tax time for people.”
“Many of the families we are dealing with are eligible to take tax credits and deductions that they do not even know exist. We’re helping them to legitimately reduce their taxes, and ease their minds,” he said. “One important skill to have as an accounting professional is the ability to collect information and analyze it to see how the rules apply. As a volunteer, I’ll be asking people specific questions in order to determine their filing status and eligibility for certain tax benefits, among other things. Additionally, I will have the benefit of gaining some basic knowledge of taxes.”
Individuals, families, and students interested in taking advantage of the program are asked to bring this year’s tax package, wage and earnings statement (Form W-2) from all employers, interest statements from banks (Form 1099), a copy of last year’s tax return, if available, and other relevant information about income and expenses.
The VITA Program at Temple University Ambler is by appointment only and space is limited. Qualifying families, individuals and students are asked to call Susan Young in the Fox School of Business at 267-468-8352 to schedule an appointment.
CONTACT: James Duffy, 267-468-8108, duffyj@temple.edu, release available by e-mail
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