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Child Tax Credit Vs Earned Income Credit

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					  Volunteer Income Tax Assistance [VITA] at Berkeley – DeCal
Purpose:

This De-Cal is designed to prepare students to take the IRS sponsored test that will
certify students to prepare tax returns at the Basic and Intermediate Level with a
Volunteer Income Tax Assistance [VITA] Site. While students are encouraged to
volunteer at any site nationwide, this course is specifically designed for students to
participate in the UC Berkeley VITA Site that will take place during the Spring semester.
We will cover the IRS online certification path [found at: www.irs.gov/app/vita] and
students will be instructed to E-File tax returns using Taxwise.

Who Should Take This Course?

      Anyone interested in learning to prepare tax returns.
      Anyone interested in a career in tax law, accounting, or a related field.
      Anyone looking to volunteer their skills to the low-income Berkeley community.

Please note that this course should not be taken if you have already taken UGBA 121
[Federal Income Tax Accounting]. The material is similar, but will not go into as much
detail. The de-cal is for the purposes of becoming certified to prepare basic and
intermediate tax returns only.

What is the VITA Organization?

The VITA Program offers free tax help to low- to moderate-income (generally, $40,000
and below) people who cannot prepare their own tax returns. Certified volunteers
sponsored by various organizations receive training to help prepare basic tax returns in
communities across the country. The United Way of the Bay Area is currently
sponsoring UC Berkeley VITA; their website can be found at: http://uwba.org/eks/.

Grading/Attendance:

Grading will be determined on two things: Attendance and the final test. Absences will
only be excused if previously arranged, except in the case of an emergency. More than 2
absences will result in a N/P. A passing score on the final test is also required. However,
as you are encouraged to use all the resources available to you while preparing actual
returns [i.e. guidebooks, online information, flow charts, etc.] these materials will be
provided for you during the final exam.

Fall 2008 Syllabus:

Week 1 [09/03]: Introduction & Administrative Guidelines

Week 2 [09/10]: Personal & Dependency Exemptions
Week 3 [09/17]: Filing Status & Who Must File

Week 4 [09/24]: Income I
      Taxable and Nontaxable Income
      Where to Report Income
      Earned Income

Week 5 [10/01]: Income II
      Interest Income
      Dividends and Corporate Distributions
      Other Income Topics

Week 6 [10/08]: Deductions & Credits I
      Standard vs. Itemized Deductions
      Earned Income Credit
      Child Tax Credit
      Credit for Child and Dependent Care Expenses

Week 7 [10/15]: Credits II
      Education Credits
      Credits for the Elderly of the Disabled
      Miscellaneous Tax Credits

Week 8 [10/22]: Self-Employment & Pension Income
      State and Local Refunds and Alimony
      Self-Employment Income
      Retirement Income
      Pensions with Taxable Amount Determined

Week 9 [10/29]: Adjustments & IRAs

Week 10 [11/05]: E-Filing & Review for Test

Week 11 [11/19]: Review for Test

Week 12 [11/26]: Final Test

				
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