Free Tax Service at UB Brings More than $1.35 Million Back to WNY

By Jacqueline Molik Ghosen

BUFFALO, N.Y. -- During the 2012 tax season, 126 IRS-certified accounting students from the University at Buffalo School of Management brought $1,353,406 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 nearly 2,200 hours of tax service, preparing more than 900 tax returns for individuals and families with annual incomes below $50,000.

“We’re especially pleased that nearly $262,000 of the total was a result of the Earned Income Credit, which targets low-income families in need of additional financial support,” said Anna Qu, a student in the School of Management and co-chair of the Beta Alpha Psi’s VITA committee. “It means that we helped a number of families who needed it most.”

“We could not be more proud of our students and the impact they have made on the community with this initiative,” said Arjang A. Assad, dean of the UB School of Management. “Despite their class loads and other responsibilities, these students have been working virtually every weekend since January to make this program the outstanding success that it has been.”

Cumulatively, School of Management student volunteers have brought more than $4 million in tax refunds back into the Buffalo community over the past four years by preparing more than more than 3,000 tax returns for low-income families. Approximately $725,000 was from the Earned Income Credit.

The UB School of Management is recognized for its emphasis on real-world learning, community and economic impact, and the global perspective of its faculty, students and alumni. The school has been ranked by Bloomberg Businessweek, the Financial Times, Forbes, U.S. News & World Report and The Wall Street Journal for the quality of its programs and the return on investment it provides its graduates. For more information about the UB School of Management, visit mgt.buffalo.edu.

The University at Buffalo is a premier research-intensive public university, a flagship institution in the State University of New York system that is its largest and most comprehensive campus. UB’s more than 28,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.