Buried under a mountain of debt and living off a fixed income, the Alsheimer family of Earlville received the best news of the day from °IJʿ senior Rachel Tibolt: they’ll receive more than $8,500 dollars in tax refunds.
“I have three children, so this money is going to make a huge difference in my life,” Jennifer Alsheimer said with a look of relief on her face as Tibolt helped her fill out tax forms inside the Hamilton Public Library.
“I never would’ve been able to figure out the tax laws on my own; it really made me feel good that students were helping me.”
Instead of having to pay an accountant, the Alsheimers, along with other low-income families in Madison and Chenango counties, are counting on the know-how of °IJʿ students this tax season.
Through the Volunteer Income Tax Assistance (VITA) program, 30 student volunteers will help about 500 local families file their taxes for free.
The VITA program at °IJʿ, the first student-staffed initiative of its kind in New York, is funded by the university’s Upstate Institute. Students are trained, and they must pass an IRS certification test before working on returns.
For Tibolt, it’s about more than just crunching numbers.
“By stepping off campus, we’re bursting the °IJʿ bubble and realizing what life’s really like just a mile down the road from campus,” she noted.
“It’s a humbling experience to see how little families can live off of.”
This year, °IJʿ students are expected to return more than a million dollars to local filers, money that many families could miss out on if it weren’t for VITA volunteers.
“We help taxpayers realize how much they’re entitled to under the Earned Income Tax Credit or EITC. They’re often surprised at the amount,” said assistant professor of economics Nicole Simpson, who supervises °IJʿ’s VITA program.
The EITC is a federal tax break for low-income families. According to Simpson, approximately 20 percent of families who qualify for the credit fail to claim it because they can’t afford to pay a professional tax preparer to complete the forms.
That’s where °IJʿ students’ budding expertise comes into play by educating families for free, and, in the process, putting money back in the pockets of those who need it the most.
“Knowing I’ll have a significant amount of money in just a few weeks, gives me hope that I can get ahead again,” said Alsheimer.