Senior and graduate accounting students, who have taken one or more tax classes, go
through a special training program and pass an exam prior to preparing tax returns
for low-income individuals. The accounting students gain real world experience while
providing a valuable service to the community.
Although some of the tax returns prepared by the students are quite basic, others
involve education credits, small businesses, rental property, IRA conversions, multiple
states, and a host of other issues.
VITA participants also help international students and scholars, who must file a complex
tax return for nonresident aliens. In preparing tax returns for international individuals,
the accounting students must determine if there are treaty benefits with specific
countries that allow some or all of the income received in the U.S. to be exempt from
federal income taxes.