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UB Students Secure Over $300K in Tax Refunds, Earned Income Credit Boosts for Low-Income Families
University at Buffalo Students’ Tax Assistance Initiative Yields $300K Refunds, Earned Income Credit Success
According to Audacy, University at Buffalo students have been hailed as local heroes after their efforts in helping residents with tax refunds resulted in over $300,000 in tax refunds this tax season. The volunteer initiative spearheaded by the UB Accounting Association and Beta Alpha Psi aimed to provide much-needed assistance to individuals and families facing financial constraints with annual incomes below $73,000. Throughout the season these dedicated students generously contributed a whopping 1,845 hours of their time assisting with more than 400 tax refunds. Their hard work paid off significantly with a substantial portion of the tax refunds exceeding $98,000, attributed to the Earned Income Credit. This credit specifically benefits low-income families offering crucial financial support where it’s most needed. Ananth Iyer the dean of the UB School of Management expressed admiration for the students’ commitment acknowledging the sacrifices they made amidst their demanding academic schedules. He emphasized the profound impact their efforts had on the community describing it as a shining example of the positive contributions School of Management students bring to the region.
This year’s achievement adds to a remarkable legacy of service from School of Management student volunteers. Since 2008 they have collectively facilitated over $13.3 million in tax refunds for the region by preparing an impressive 10,465 tax refunds. Notably approximately $2.8 million of these tax refunds stemmed from the Earned Income Credit underscoring the vital role these students play in supporting those most in need within their community. The initiative not only highlights the dedication of the University at Buffalo students but also underscores the importance of community engagement and service. Their efforts have not only provided financial relief to hundreds of individuals and families but have also fostered a sense of unity and support within the Buffalo community. As tax season draws to a close the impact of these students’ endeavors will continue to inspire leaving a lasting legacy of generosity and compassion. Their selfless contributions serve as a testament to the power of collective action and the profound difference individuals can make when they come together to support one another.
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$300,000 in Tax Refunds Secured by UB Students – Check Out the Impacts of Volunteer Efforts! (PHOTO: doola)
UB Students’ Tax Assistance Initiative Underscores Critical Need for Accessible Financial Services in Underserved Communities
Furthermore, the University at Buffalo students who helped with taxes showed how important it is for Americans in underserved areas to get help with money. They gave free help to Americans who don’t earn a lot making sure they got back any money they were owed. Plus they taught them how to manage money better. Taxes can be tricky and Americans who don’t have much money might not know about all the help they can get. The UB Accounting Association and Beta Alpha Psi didn’t just do taxes they also shared tips for managing money well.
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