Regis University students prepare taxes for low-income families

As the economy grows, the number of business establishments will increase, requiring more accountants and auditors to set up books, prepare taxes and provide management advice, according to the U.S. Bureau of Labor Statistics (BLS). Those who wish to work as tax accountants may benefit from enrolling at Regis University, as its students get real-world experience opportunities.

For example, the school's income tax accounting II class is preparing returns for low-income families. Business professors Matt Daly and Tom Edmonds will lead the initiative, which provides services though the Volunteer Income Tax Assistance (VITA) program, which is sponsored by the Internal Revenue Service (IRS). Confidentiality and accuracy are priorities for the students.

The school has been running the VITA program for more than two decades. Those who earn less than $50,000 annually are eligible for assistance.

Students who wish to participate must pass two IRS-administered tests before they can volunteer. Daly and Edmonds, who have experience in tax accounting, proof all returns before they are submitted.

According to the BLS, accountants and auditors help to ensure that firms are run efficiently, public records are kept accurately and taxes are paid properly and on time.

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