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TAX HELP New Mexico

TAX HELP New Mexico. Diana Matier, Director dmatier@cnm.edu. Introduction. Started 34 years ago at CNM as a way to give accounting students practical experience. TAX HELP New Mexico began statewide in 2003

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TAX HELP New Mexico

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  1. TAX HELP New Mexico Diana Matier, Director dmatier@cnm.edu

  2. Introduction • Started 34 years ago at CNM as a way to give accounting students practical experience. • TAX HELP New Mexico began statewide in 2003 • The free tax return preparation service prepares and files federal and state tax returns electronically for those whose annual household income is under the Earned Income Credit Guidelines. • 2008 was for taxpayers that earned $42,000or less or who are age 65 or older.

  3. Student Benefits • Life Long Skills • Resumé building for college, scholarships, and work experience • Provides community service and service learning opportunities • Dual credit concurrent enrollment: • 3 Hours of CNM credit • High school practical arts credit

  4. BENEFITS TO STUDENTS(High School – College) • Exposure to careers with the IRS or in the accounting field.  Many volunteers have gone on to work for the IRS and the New Mexico Taxation and Revenue Department. • Potential of $100 scholarship • Skills obtained: • Communication skills • Customer Service skills • Growth in student maturity • Begins to transition from student to adult role

  5. BENEFITS TO LOW-INCOME AND ELDERLY RESIDENTS •  Providing free tax return preparation •  Educating people about: • Earned Income Tax Credit (EITC) — a federal credit for qualified low-to-moderate income workers  • Education Credits • Making Work Pay • Other credits

  6. PARTNERSHIPS • Educational institutes • Non Profit Service Agencies • For Profit Service Providers • Internal Revenue Service-SPEC • New Mexico Taxation and Revenue Department • Univision

  7. SITE DEVELOPMENT • Very little start up money • Our unique model of web-based training • Train the Trainer and training for business and accounting instructors and key staff from agencies • Free tax prep software (provided by the IRS) • Motivated students, community members, and employees to serve as volunteers • Supplies / Equipment

  8. Results Active sites 51 Total Clients 30328 Returns 45,317 Dollars return to the community $22,178,663 Return Preparation Fees Saved $3,141,600

  9. Credits Results

  10. Thank you for your time!!! Q & A

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