Tax Help Colorado is a program that uses colleges to provide free income-tax return preparation to lower- and moderate-income working families in Colorado.
Overview
Tax Help Colorado is a program that uses colleges to provide free income-tax return preparation to lower- and moderate-income working families in Colorado. Tax Help Colorado services are free to taxpayers with a household income less than $49,000.
Tax Help Colorado lessens the burden of preparation fees and scarce access to computers for lower-income taxpayers by relying on trained student volunteers certified to do free income tax preparation in college computer labs with up-to-date equipment. The college students receive valuable experience preparing tax returns and the IRS tax law certification, which looks good to potential employers, as well as exposure to community service and careers in the accounting field and IRS.
Last year, Tax Help Colorado helped 4,086 taxpayers at the 11 sites throughout the state of Colorado, netting $8.3 million in refunds. Through the Tax Help Colorado site at the Leeds School of Business, the school’s first year participating in the statewide program, student volunteers helped 369 taxpayers who received a total of $665,332 in refunds.
Required Documents
Those eligible should be sure to bring the following documents to the tax site:
- Proof of mortgage interest, property taxes, daycare payments, college education expenses, charitable contributions and all other tax deductible expenses.
- Social Security Cards for all family members.
- A copy of last year’s tax return, if available.
- Bank account number and routing number to direct deposit your refund. With direct deposits, refunds are received in 7–10 days.
Filings Prepared
Volunteers will prepare:
- Form 1040
- Schedules A and B
- Schedule C-EZ
- Simple Schedule D
- Schedule EIC (Earned Income Tax Credit)
- Form 2441 (Child and Dependent Care Credit)
- Form 8863 (Education Credits)
- First-Time Homebuyer Credit
- New Car Purchase Tax Deduction
- Colorado State Tax Return
- Colorado 104 PTC
Volunteers will not prepare:
- Schedule C (Profit or Loss from Business)
- Complicated & Advanced Schedule D (Capital Gains and Losses)
- Schedule E (Rents, Losses & Royalties)
- Form SS-5 (Request for Social Security Number)
- Form 1099-A or Form 1099-C (Foreclosure or Repossession)
- Form 2106 (Employee Business Expenses)
- Form 3903 (Moving)
- Form 8605 (Non-deductible IRA)
- Form 8615 (Minor’s Investment Income)
- Other (non-Colorado) State Tax Returns
- 1040 NR
Video
Leeds School offers free tax help to low-Income families each year starting in January.
