UB tax preparers help return nearly $1M

September 27, 2013 Updated Apr 22, 2010 at 7:19 AM EDT

By Business First of Buffalo - by Allissa Kline

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September 27, 2013 Updated Apr 22, 2010 at 7:19 AM EDT

The University at Buffalo School of Management said that its no-charge Volunteer Income Tax Assistance program helped bring nearly $1 million in tax returns back to Western New York during the recent tax season.

A group of 179 IRS-certified UB accounting students spent 10 weeks providing tax services for eligible local individuals and families. The total amount in refunds set to be returned is $992,000. Of that total, $171,000 stems from the Earned Income Credit, a refundable federal income tax credit for low to moderate income working individuals and families.

Students from UB's Beta Alpha Psi chapter participated in the VITA program. They provided more than 2,000 hours of service this year and prepared more than 700 tax returns for individuals and families with annual incomes less than $49,000.

In the past three years, UB volunteers have helped bring nearly $2 million in tax refunds back into the region, including $400,000 through the Earned Income Credit, UB said.