### Problem - volunteer income tax assistance

Assignment Help Taxation
##### Reference no: EM13303607

WHY VITA (Volunteer Income Tax Assistance)

Volunteer Income Tax Assistance (VITA) is a great tax preparation service provided to lower income families. The IRS set up this service as a way to provide free tax work for those who generally could not afford to have their taxes prepared professionally. I've evenofferd this service at the Muncie Ivy-Tech location for the past 3 years.

The IRS expenses to run this service includes sending out all the training materials (which consists of a large text book plus other booklets), any forms each site may need, contracting out a professional tax software company to provide the software as well as many other costs. One would think if the IRS put this much money into a free service, they would expect quite a windfall of taxes to come in. However, just the opposite generally happens. During the first day we were open, estimated the refunds of those to be about \$20,000 in total. Why do you think the IRS goes to the trouble to provide this free service when most lower income individuals receive a refund?

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 Show the interst payment and principle payment : you are required to make 5 equal annual repayment in the amount of \$1285.46 per year, with the first repayment occuring at teh end of the year one. for each year, show the interst payment and principle payment. Estimate the current in the coil : A 1200 turn coil in a dc motor has an area per turn of 1.1 * 10-2m-2. What is the current in the coil What would be average length of queue and waiting time : At a parking lot, vehicles arrive according to a Poisson process and are processed (parking fee collected) at a uniform deterministic rate at a single station. The mean arrival rate is 4 veh/min and the processing rate is 5 veh/min. At what rate is heat dissipated : An electrical resistor has a voltage drop of 5.00 V when 0.300 A of current flows. At what rate (W) is heat dissipated Problem - volunteer income tax assistance : Estimated the refunds of those to be about \$20,000 in total. Why do you think the IRS goes to the trouble to provide this free service when most lower income individuals receive a refund? Find the maximum kinetic energy for the scattered electron : Find the wavelength of the scattered photon when the scattered electron has its maximum kinetic energy Does buying the hybrid make sense : Using the idea of discounted future values, does buying the hybrid make sense? How long does one have to own the hybrid to reap the benefits? Be sure to detail your analysis. Estimate the mean and standard deviation of time : The probability density function, f(t), of the time in hours between storms during the summer in Miami is estimated as f(t) = .014e^(-.014t) if x > 0, f(t) = 0  if x is less than or equal to 0 where t is the time interval between storms in hours. Which of the following will decrease total equity : Holding all other variables constant, which of the following will decrease total equity?

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