Open again for appointments is TerpTax, the free tax return preparation service for University of Maryland students and low-to mid-income individuals in the surrounding communities.
The service is housed in the Robert H. Smith School of Business as a Volunteer Income Tax Assistance (VITA) chapter—created and endorsed by the IRS. It especially benefits graduate and international students, along with qualifying nonstudents for whom the cost of tax return preparation might otherwise be an economic burden.
Operating since 2015 under the direction of Smith Accounting Lecturer Samuel Handwerger, TerpTax covers federal and any state returns and significantly addresses IRS requirements of international students. “All international students have a filing requirement regardless of U.S. income amount, or even if none. International returns with treaty benefits are our specialty,” says Handwerger, a CPA with a master’s in taxation and available to TerpTax clients for filing-related consultation free of charge.
The TerpTax website provides in-person and asynchronous appointments. New this year is a self-preparation option with unlimited free assistance by request, Handwerger says. “And you do not have to be a student at UMD, as we can handle alumni returns up to about $65,000 in income.”
All work is given a quality review, he says, and adds: “TerpTax is a realistic work experience as the program operates just like a CPA firm’s tax department. Student volunteers take on various roles such as tax preparer and quality tax reviewer. We have 40-plus business students gaining valuable experience. It is a win-win situation. You give TerpTax volunteers experience, and you get a tax return for free.”
TerpTax is scheduling appointments up to the April 15, 2024, filing deadline. “And we will have volunteers standing by until April 30 to complete returns put on extension,” Handwerger says. “We can do amended returns going back to 2018.”
For appointments and more information, go to the TerpTax website.
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About the University of Maryland's Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master’s, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.