Release Date: May 9, 2019
BUFFALO, N.Y. — During the 2019 tax season, more than 120 IRS-certified accounting students from the University at Buffalo School of Management brought nearly $886,000 back into the Buffalo community through the Volunteer Income Tax Assistance (VITA) program.
UB’s chapter of Beta Alpha Psi, the international honors organization for accounting and finance students and professionals, led the initiative that provided more than 3,200 hours of tax service, preparing 723 tax returns for individuals and families with annual incomes below $55,000.
“What’s great about the program is that we get to help the families that need it most,” says Michael Hughes, a senior in the School of Management and president of UB’s Beta Alpha Psi chapter.
Nearly $239,000 of the total was a result of the Earned Income Credit, which targets low-income families in need of additional financial support.
“We are quite proud of our students and the impact they make on the community each year with this initiative,” says Paul Tesluk, dean of the UB School of Management. “In addition to their class loads and other responsibilities, they’ve been working virtually every weekend since January to make this program the outstanding success it has been.”
Cumulatively, School of Management student volunteers have brought more than $12 million in tax refunds back into the region over the past eight years by preparing more than 9,600 tax returns. Approximately $2.6 million was from the Earned Income Credit.