Many MTSU students struggle to square away enough time to complete their taxes, and learning how the United States’ tax system works may seem intimidating. MTSU’s Beta Alpha Psi volunteers every year to help educate and alleviate these anxieties for students.

Beta Alpha Psi partnered with United Way’s Volunteer Income Tax (VITA) program, which assists lower-income households in Rutherford County in filing their taxes. This partnership precipitated two additional on-campus clinics to the VITA program. 

“Don’t wait till the last minute,” Brandon Vagner, a Beta Alpha Psi representative, said. “Don’t be fearful of the process.”

What documents do I need?

Students should keep a valid form of photo identification, such as a passport or a driver’s license, their social security card, any W-2 or 1099 forms they’ve received from employers and their 1098-T form for the previous year. Students receive a paper copy in the mail and can access their 1098-T through their MTSU Pipeline account.

Students will want printed copies of their documents if they attend the VITA program, MTSU professor and certified public accountant Kim Honaker said. In previous years, students arrived without the proper paperwork, or their digital devices malfunctioned or lost power, she said. Volunteers didn’t have enough information to do the job.

“Come prepared,” Beta Alpha Psi chapter president Karis Weaver said. “Have the information in order. I’d recommend ultimately having them physically.”

How do I file by myself?

Filers might want to opt for free digital software instead of mailing in paper documentation, Honaker said. Sometimes, paper documentation can cause tax refund delays and confusion for inexperienced filers.

“The best thing we can do when we’re scared of the unknown is really just kind of take a deep breath, must up our courage, and dive in, right?” Honaker said.

Most digital software walks the filer through a set of prompted questions, and some carry over previous years’ tax documents. A digitized history of tax documents can be helpful and make the filing process go smoother. Honaker and Vagner said students should keep their tax-related documents organized in a folder to keep them easily accessible. 

Every financial situation will look different, and not every person will need the same documents. Students can access more information and resources through the VITA and IRS websites.

“Leverage knowledgeable resources,” Honaker said. “Do that, because it’s complicated.”

When are my taxes due?

The last day to file is April 15, unless an extension is filed before that date. Once filed, the IRS grants the extendee an additional six months to file. While it’s an extension to file your return, it’s not an extension to pay. If the filer doesn’t pay by April 15, they can incur penalties from the IRS, Honaker said. 

“You need to try to get a handle on your situation to estimate your tax liability and make sure you don’t owe any more taxes,” Honaker said.

How can VITA help me?

The VITA program and Beta Alpha Psi plan on operating out of the Business and Aerospace Building in room S326 on Feb. 26 and March 26. They’ll run from 1 p.m.-5:30 p.m. on both days. It’s recommended that expected participants schedule an appointment in advance, but walk-ins will be accepted until the clinics reach full capacity.

What does Beta Alpha Psi do?

The Beta Alpha Psi fraternity disseminates accounting and financial information to university students and Rutherford County locals. Karis Weaver leads volunteering initiatives on and off campus. In the past, the fraternity has cleaned up the Greenway, tutored students and helped the Greater Nashville area through food and donation drives, partnering with Nourish Hub and Feed America First.

“Our volunteers will pack, and then put things on trucks to have things distributed to the people in the community who need them,” Weaver said.

This semester, the fraternity plans on volunteering with Junior Achievement of Middle Tennessee, a non-profit focused on teaching financial literacy to younger students in the community, Weaver said. 

Volunteers for the VITA event include Beta Alpha Psi members, retired accountants, former certified public accountants and other financial specialists. A basic certification lets volunteers handle straightforward W-2 forms, while an advanced certification allows more complicated work, like 1099 forms.

“We’re back to getting to more sustainable numbers,” Weaver said. “We’re trying to add new initiatives and grow more.”