Release Date: May 4, 2015
BUFFALO, N.Y. – During the 2015 tax season, more than 200 IRS-certified accounting students from the University at Buffalo School of Management brought $1,284,050 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 2,600 hours of tax service, preparing 1,084 tax returns for individuals and families with annual incomes below $53,000.
“What’s great about the program is that we get to help the families that need it most,” says Spencer Gates, a senior in the School of Management and president of UB’s Beta Alpha Psi chapter.
Nearly $398,000 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 Arjang A. Assad, 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.”
This year marked the first time students set up shop on UB’s Downtown Campus in the UB Gateway Building, in addition to their usual North and South campus locations.
Cumulatively, School of Management student volunteers have brought more than $8 million in tax refunds back into the region over the past eight years by preparing more than 6,400 tax returns. Approximately $1.78 million 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 also has been ranked by Bloomberg Businessweek, the Financial Times, Forbes and U.S. News & World Report 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 http://mgt.buffalo.edu.