VITA Impacts Local Economy by More Than $1 Million

August 24, 2023

Since 2020, the Parker College School of Accountancy (SOA) has partnered with the IRS and provided free income tax preparation and E-filing of returns for taxpayers whose income is less than $75,000 through the Volunteer Income Tax Assistance Program (VITA). Recently, the IRS notified Gloria Stuart, CPA, one of the VITA site coordinators, that the 725 total tax returns prepared by the School of Accountancy’s VITA volunteers (accounting students and faculty members) has had an economic impact of $1,028,922! The IRS calculates the economic impact based on the amount of refunds received, the tax preparation fee savings, and a multiplier effect of 1.5. The Parker College School of Accountancy VITA site coordinators, Stuart, Chuck Harter, CPA, and Paula Mooney, CPA, look forward to continuing the VITA program in the 2024 tax season.