What do you do with your spare time? Maybe you’re an avid golfer, fitness enthusiast or collector. Now the IRS is asking you to set aside your personal pursuits for just a few hours a week to help some underprivileged individuals with their taxes.
In a recent Tax Tip posted on its website (IRS Summertime Tax Tip 2015-22, 8/21/15), the IRS encourages volunteers to step forward by providing free tax assistance in their communities. Specifically, the IRS refers to two programs it is sponsoring: the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs. VITA and ETC volunteers prepared more than 3.7 million tax returns in 2015 free of charge to people with low-to-moderate incomes.
Volunteers come from all walks of life, but your expertise will be especially valuable in this environment. The IRS will provide training to help taxpayers file their returns to anyone else who needs it. To sign up, all you have to do is go to www.irs.gov/Individuals/IRS-Tax-Volunteers and submit the requested information.
Of course, your leisure time is precious to you, but the IRS offers five good reasons for volunteering your services:
- No prior experience needed. You’ll receive specialized training and can serve in a variety of roles. If you are fluent in another language, you may be able to help those who speak that language.
- Free tax preparation training and materials. You’ll learn how to prepare basic tax returns and learn about tax deductions and credits that benefit eligible taxpayers. These include credits such as the Earned Income Tax Credit (EITC), Child Tax Credit and Credit for the Elderly.
- Volunteer hours are flexible. Volunteers generally serve an average of only three to five hours per week. The programs are usually open from mid-January through the tax-return filing deadline in April. A few sites are open all year-round.
- VITA and TCE sites are often nearby. More than 12,000 sites were set up in neighborhoods all over the country this year. They are often located in community centers, libraries, schools, shopping malls and similar places. Chances are that you’ll be able to volunteer at a site close to you.
- Continuing education credits for tax pros. Enrolled Agents and non-credentialed tax return preparers can earn credits when volunteering as a VITA/TCE instructor, quality reviewer or tax return preparer. See the IRS fact sheet at
www.irs.gov/pub/irs-utl/2015%20Final%20Fact%20Sheet_Continuing%20Education%20Credit%20for%20Enrolled%20Agents%20and%20Other%20Tax%20Return%20Preparers_082014.pdf for more information on Continuing Education (CE) Credits.
Not only will you feel personally rewarded for your generosity as a tax volunteer, it’s likely that the activity will trickle-down into new business. When the grateful taxpayers you assist are asked about a recommendation or referral relating to tax assistance or tax return preparation, whom do you think they will think of first? As a result, you’ll be helping yourself while you help others.
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Tags: Income Tax, Software, Taxes
