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Business students help thousands of families prepare tax returns
During the 2014 tax season, 11 AUM students volunteered at a free tax preparation site in Montgomery through the SaveFirst program to prepare more than 1,200 tax returns for working families. The students helped the families secure $2.7 million in tax refunds and saved them $360,000 in commercial tax preparation fees.
“SaveFirst is a great experiential learning activity for AUM tax students,” said Dr. Teresa Lang, Associate Professor in the Department of Accounting. “This is one of those rare win/win partnerships. The taxpayers get their tax returns prepared at no cost to them. Most of the taxpayers get refunds, which feed into the local economy, and the AUM students gain confidence in their ability to apply what they have learned in class. Students frequently share how happy they are to have helped someone and how they feel they made a difference. In the end, the experience usually makes a difference in their class performance, too.”
AUM students collaborated with more than 550 students from 15 other campuses across the state to assist low-income, working families. In total, SaveFirst students assisted more than 8,200 families who claimed $14.9 million in refunds and saved approximately $2.5 million in commercial preparation fees - a 31 percent increase in families served compared to the last tax season.