My co-bloggers Ally and Xinmiao have talked about how as MPAs, we do get various opportunities to give back to the community and work with/for not-for-profits. This semester, I am taking a course, which allows me to do just those. Yes, UT has an accounting class that is solely committed to using our accounting knowledge to serve others.
ACC 384 or ACC 366P is the Accounting Practicum class that can be taken by undergraduate and graduate students at McCombs. The class has been offered at UT for six years and has allowed students to become volunteer tax preparers at low-income neighborhoods.
UT partners with Community Tax Centers, a local not-for-profit organization under Foundation Communities. It has partnered with the IRS to implement the Volunteer Income Tax Assistance (VITA) program for low income filers. Students taking the class are required to complete at least 55 hours of volunteer service as tax preparers at various Community Tax Centers from January until mid-April. Shifts can be as long as six hours per day.
This past weekend, we took the basic training to become preparers. We learned to navigate the tax preparation software that is being used for the program. We also worked on various cases and scenarios that we might encounter as volunteers and how we can effectively use the IRS guidebooks in helping clients with various tax issues and preparing their returns. Next Friday, we will have our intermediate training to become equipped in handling more complicated tax issues and preparation. The class requires that we take the certification tests after each training to assure that we have sufficient knowledge to do our volunteer work well. Continue reading Accounting Practicum: The Class that Gives Back