Headline for Featured Item #1 Texas A&M-Corpus Christi Sets Record in Tax Preparations - Texas A&M University-Corpus Christi
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Texas A&M-Corpus Christi Sets Record in Tax Preparations

May 06, 2013

CORPUS CHRISTI, Texas – The 2013 Volunteer Income Tax Assistance program, a joint program between Texas A&M University-Corpus Christi, the United Way of the Coastal Bend, the IRS, and other community partners successfully prepared 3,102 tax returns, returning a record $4 million to low and moderate income households.

This year, 49 volunteers served nearly 1,200 hours. Thirty-eight of those volunteers serving more than 795 hours came from Texas A&M-Corpus Christi, with five students/alumni working as site or program coordinators. 

“We’re thrilled with the results of this year’s VITA program in which we prepared a record number of tax returns for our community,” said Dr. Valrie Chambers, Professor of Accounting. “This program also provides students with hands-on experience in preparing tax returns for real tax payers.”

In addition, taxpayers and the community benefited from the program. VITA returns yielded more than $1,435,716 in earned income tax credits, which is new money to the Coastal Bend community.

“Taxpayers saved thousands of dollars in tax preparation fees,” said Chambers.  “That money will be in the hands of taxpayers shortly, if they haven’t received it already.”

The IRS issues more than 90 percent of tax refunds within 21 days so if a taxpayer filed a return before April 15 this year, they will expect a refund by May 6.

The following are summary comparative statistics for 2012 and 2013:

 

  • April 2012 – 2,543 returns
  • April 2013 – 3,102 returns

 

  • April 2012 – Total EITC $1,055,056
  • April 2013 – Total EITC $1,435,717

 

  • April 2012 – Total refunds $3,187,220
  • April 2013 – Total refunds $4,113,844

 

Each tax season, accounting students from the College of Business at Texas A&M University-Corpus Christi assist low income families in the Coastal Bend prepare their tax returns throughout the tax season as part of the Internal Revenue Service’s Voluntary Income Tax Assistance (VITA) program. Most families earning less than $50,000, military families (in conjunction with the Armed Forces Tax council), and taxpayers 60 and older (generally in conjunction with AARP sites) are eligible to have their tax returns prepared for free.

 

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