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Beta Alpha Psi To Offer Free Federal Income Tax Help

VITA (Volunteer Income Tax Assistance) sessions will be conducted by members and pledges of Beta Alpha Psi, the National Honors Fraternity for Financial Information Professionals. Members/pledges are accounting students at the University of Iowa. They will provide free income tax preparation help at the Iowa City Public Library on Wednesdays from 6:00-8:30 PM and Sundays from 1:30-4:00 PM, February15 through April 14.

There will be no assistance February 18 and 25, during spring break--March 14, 17, and 21, and April 11.

This VITA site only prepares income tax returns for taxpayers who are US residents or resident aliens during all of 2003. Clients should bring a copy of last year's tax return if one was filed, their tax form package, pertinent receipts, and withholding and interest statements.

You cannot use this service if: You are single and your gross income exceeds $25,000; You are married and your gross combined income exceeds $35,000; You are self-employed or have income from rental property; You have sold securities (stocks and bonds) in 2003; You earned income outside the state of Iowa; You have car and/or truck expenses and do not have documentation; You received a lump-sum distribution from pension plan in 2003.

UI accounting students, who have completed both an introductory tax course in the Henry B. Tippie College of Business and IRS training, will provide the free tax assistance. The VITA program provides students practical tax experience outside the classroom, and is a community service program that is part of their professional development in the accounting field.

Please call the Iowa City Public Library Information Desk if you have questions, 356-5200 ext. 5.

The Library also stocks a variety of income tax forms and has a reference collection containing income tax rules and regulations.

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