Tax deadline coming, VITA assists students

With spring break on the horizon, it is only a matter of time before taxes are due April 15.

Though taxes may seem daunting, there are methods to make the process a bit easier.

Tom Davies, an accounting and finance professor at the University of South Dakota, has a primary teaching area in tax.

Davies said more than 50 percent of the public use paid tax preparers, so there are many who have a fear of not filling them out correctly and paying the consequences.

He said the tax returns college students file are not usually overly complicated, so they could more than likely do them on their own.

“These returns are going to be fairly simple,” Davies said. “Most students’ returns are not all that complex.”

Davies suggests taking advantage of the assistance provided by the IRS Volunteer Tax Assistance (VITA). It is one program that provides assistance to taxpayers with an income below $52,000, students included.

The program is offered in local communities across the country at libraries, schools and other locations accessible to the public.

Volunteers, a total of 12, with 10 from the law school, and two from the business school, are IRS-certified. They can then help those who need to file with preparation of a simple income tax return via electronic filing.

Interim associate dean of the law school John Glover said a lot has changed since he went to law school in the matter of how much students are involved.

“We’re very pleased with how active our students are,” Glover said.

He said there is a more community-oriented feel now as students volunteer for events such as the valuable VITA program’s.

Second-year law student Emily Lessin organized the program this year and volunteered in 2013.

Lessin said this year there has been a greater response with 43 people who have been helped so far. She said there were more students who were assisted in 2013, while more community members have come in this year.

She recommended students find a quiet spot to do their tax return with no distractions and understand the ins-and-outs to get the best out of your filing.

“Even if you are not required to file taxes, you can still get credits which would give you money,” Lessin said. “A lot of people think they’re not going to get anything and they do.”

Although everyone has a different situation, Lessin said many students might be eligible to file with education credits.

In order to file, a person must have the essential documents. For example, VITA requires the presence of a social security card, a form of personal identification, a W-2, information on scholarships and tuition and any existing tax documents.

While no dates are set in March for VITA, they will hold two more sessions at the Vermillion Public Library April 5 and 12 from 10 a.m. to 5 p.m. Another will be hosted at the Law School April 8 from 3 p.m. to 9 p.m.

Davies said not to put off doing taxes until April 15, because penalties could arise. He said the idea of taxes is more intimidating than students think they really are.

“While it seems scary, it’s not as bad as it seems,” Davies said. “They’re actually not as hard as most people believe, especially the simple ones.”