With tax season underway, lots of companies are advertising their tax preparation services, but there’s one way eligible people can ensure they’re making the most cost effective choice.
“There’s all these tax services out there that say ‘You’ll get more from us,'” said Phyllis Cavallone-Jurek, executive director of the nonprofit Ladder Up. “Well, you’ll definitely get more for free.”
Ladder Up is offering free tax help at a Tax-a-Thon event from 9 to 2 p.m. Feb. 4 at Olive-Harvey College, 10001 S. Woodlawn Ave., Chicago. Families earning up to $60,000 and individuals earning up to $32,000 are eligible for the service, as are those with disabilities or who speak limited English.
Tax preparation can get pricey, with online estimates from $50 to several hundred dollars, and that can be hard on people struggling to make ends meet, Cavallone-Jurek said.
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“There’s a few times when we hear some preparers take a high portion of the refund — that could be grocery money or rent money,” she said.
The event is staffed by roughly 30 volunteers, many who are college students majoring in finance or accounting preparing the returns initially, with those more experienced tax preparers checking the returns and finishing up.
Help is first come, first served, so Cavallone-Jurek said it’s a good idea to arrive early and bring all necessary income documents, expense reports and photo identification.
The program is an extension of the IRS and called VITA, Volunteer Income Tax Assistance. There are other VITA sites, as well, plus tax counseling sites for older residents, with information and other resources at www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers.
John Mann, who has a bachelor’s degree in accounting, a master’s degree in taxation and MBA in finance, and worked his entire career in the tax field, has volunteered with the service for years. He said taxes can be complicated, but volunteers and staff “spent a lot of time figuring out how to deliver this service to clients very effectively.”
Mann, who is on the Ladder Up Advisory Board, said volunteers review and discuss the returns with clients before electronically filing them to the IRS.
“The team is very conscientious and capable,” he said, noting events such as the Tax-A-Thon open up access for people to “have a chance to work with a trusted financial adviser who really puts their interests first.”
Cavallone-Jurek said she wished more people would take advantage of the service.
“You wish you could somehow reach all of them who would qualify for the service,” said Cavallone. “They’re very grateful.”
More information and eligibility criteria are at https://www.goladderup.org/our-services/tax-assistance/.
Janice Neumann is a freelance reporter for the Daily Southtown.