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Home > Community Engagement > School of Management in the Community > Highlights > Free Tax Preparation

Free Tax Preparation for Low-Income Families

School of Management students prepare tax returns for a clientEach spring, IRS-certified accounting students from the University at Buffalo School of Management provide free tax preparation services to individuals and families with annual incomes below $42,000. 

The tax preparation service is provided by the UB Chapter of Beta Alpha Psi, an international honors organization for accounting, finance, and information systems students. Services are provided on the university's North and South Campuses through the Volunteer Income Tax Assistance (VITA) program.

In 2009, our students provided more than 2,000 hours of tax service, preparing more than 675 tax returns for individuals and families, bringing nearly $640,000 in tax refunds back into the Buffalo community. More than $120,400 of the total was a result of the Earned Income Credit, which targets low-income families in need of additional financial support.

Western New York residents and students are encouraged to take advantage of this free service, which, by IRS estimates, can save taxpayers between $100 and $300 in preparation fees.

This service can be especially valuable to low-income tax filers by helping them apply for earned income-tax credits that can provide a needed boost in annual income. The tax credits, which can reduce or completely eliminate income taxes by refunding taxes already withheld from wages, can mean as much as $4,700 for a family with two children.