RMASFAA Conference
Link & Learn More Link & Learn More About TaxesAbout Taxes
October 21, 2008October 21, 2008
Topics of Discussion
Who are we and why are we here?Challenges faced by Financial Aid
AdministratorsRecommendations/Resources to
overcome challenges
Who Are We?
Wage & Investment Division – Outreach & Education
Customers - Wage earners and/or investment income
Leveraged approach to taxpayer assistance Partner with organizations sharing a
commitment to provide education, benefits and services to underserved communities.
Who Are We?
Community based partnership model: Tax awareness and education Free tax preparation assistance Financial literacy and asset
building
Awareness and Education
Tax PreparationAsset
Building
Why are we here?
Address challenges faced during FAFSA verification process
Outline potential resources to overcome challenges
Challenges
Do I have the training necessary? Is my interpretation of the tax law
correct? (i.e. Am I reading this right?)
What documents should be requested?
Where do I go for information?
Recommendations
Link & LearnLink and Learn Taxes is an e-
learning course designed specifically for VITA/TCE volunteers. It provides uniform training and a consistent quality message to each volunteer.
Link & Learn Taxes and Your Organization
IRS e-learning course
Training and certification when and where you want it
Link & Learn Taxes …• Will deliver a uniform level of
instruction • Save on facility costs• Requires no instructor• Certifies your volunteers
online• Is available 24/7
A Training Course for Every Volunteer
BasicCommon individual and family tax concerns
IntermediateOther forms of income and deduction
AdvancedPension and advanced tax concerns
MilitaryActive members and Reserve
InternationalTaxpayers living outside the U.S.
Returning StudentTax laws that take effect this year
Foreign StudentAssist foreign students and scholars.
Puerto RicoBona fide residents of PR.
Getting to Link & Learn Taxes:
Go to www.irs.gov, type “Link & Learn” in the keyword field and click Search, then click on the “Link & Learn Taxes” link. Or you may be able to link directly using www.irs.gov/app/vita/index.jspEither way you'll find a detailed overview and links to the program.
Volunteer Income Tax Assistance (VITA)
Originated with Tax Reform Act of 1969 Increased emphasis on Taxpayer Education
Programs Offers free tax help to low to moderate income
individuals VITA volunteers prepare basic returns:
Low income taxpayers Persons with disabilities Limited English speaking persons Elderly taxpayers
Volunteer Income Tax Assistance (VITA)
Set up a site within your school. Train selected volunteer
students/staff Process tax forms for the
community and students as well as assist with the preparation of FAFSA forms.
What do you have to do?
Program is flexible! Your school decides:
What types of returns you will process.
– 1040EZ– 1040A– 1040 and related schedules
The school determines the
schedule Weekdays Weekends Super Saturdays During high-traffic
periods—February and April
Volunteer Income Tax Assistance
Examples of Successful Free Tax & FAFSA Form Preparation Strategies
Milwaukee, WI- VITA clients had FAFSA and tax returns prepared
Uvalde, TX – Held a FAFSA event to assist parents with tax return and electronic preparation of FAFSA
Oakland, CA – VITA clients had FAFSA and tax returns prepared
Resources www.irs.gov www.irs.gov/taxlaw IRS Tax Help-800-829-1040 IRS Forms & Publications – 800-829-3676 Publication 17- Your Federal Income Tax Publication 4012 – Volunteer Resource
Guide